Johnson & Johnson (NYSE:JNJ) Stock Holdings Trimmed by Summit Asset Management LLC

Summit Asset Management LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,930 shares of the company’s stock after selling 255 shares during the period. Summit Asset Management LLC’s holdings in Johnson & Johnson were worth $2,159,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Knuff & Co LLC raised its stake in Johnson & Johnson by 0.7% during the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after acquiring an additional 64 shares in the last quarter. Vertex Planning Partners LLC raised its stake in Johnson & Johnson by 1.3% during the 3rd quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock valued at $844,000 after acquiring an additional 65 shares in the last quarter. Werba Rubin Papier Wealth Management raised its stake in shares of Johnson & Johnson by 3.3% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock worth $301,000 after buying an additional 66 shares in the last quarter. Corepath Wealth Partners LLC raised its stake in shares of Johnson & Johnson by 3.7% in the 4th quarter. Corepath Wealth Partners LLC now owns 1,985 shares of the company’s stock worth $287,000 after buying an additional 70 shares in the last quarter. Finally, Lifestyle Asset Management Inc. raised its stake in shares of Johnson & Johnson by 4.7% in the 4th quarter. Lifestyle Asset Management Inc. now owns 1,560 shares of the company’s stock worth $226,000 after buying an additional 70 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Argus raised Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Stifel Nicolaus dropped their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, Citigroup dropped their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $162.75 on Thursday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $391.83 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 2.56 and a beta of 0.52. The stock’s fifty day simple moving average is $150.08 and its 200-day simple moving average is $155.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.05%. Johnson & Johnson’s payout ratio is 74.59%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.