Glen Eagle Advisors LLC Sells 565 Shares of Johnson & Johnson (NYSE:JNJ)

Glen Eagle Advisors LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 0.5% during the fourth quarter, HoldingsChannel reports. The firm owned 106,884 shares of the company’s stock after selling 565 shares during the period. Johnson & Johnson comprises about 2.6% of Glen Eagle Advisors LLC’s investment portfolio, making the stock its 9th biggest holding. Glen Eagle Advisors LLC’s holdings in Johnson & Johnson were worth $15,458,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $29,000. Bay Harbor Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $32,000. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $36,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on JNJ shares. Raymond James lowered their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their target price for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Barclays reduced their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.7%

Shares of Johnson & Johnson stock opened at $153.58 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a market capitalization of $369.52 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.56 and a beta of 0.42. The business has a 50 day moving average price of $155.87 and a 200 day moving average price of $153.80.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson’s payout ratio is presently 57.84%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 approximately $3,483,645.88. The trade was a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.