Johnson & Johnson (NYSE:JNJ) is Sectoral Asset Management Inc.’s 4th Largest Position

Sectoral Asset Management Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJFree Report) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,850 shares of the company’s stock after selling 3,000 shares during the period. Johnson & Johnson makes up approximately 3.6% of Sectoral Asset Management Inc.’s holdings, making the stock its 4th biggest holding. Sectoral Asset Management Inc.’s holdings in Johnson & Johnson were worth $8,440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Keener Financial Planning LLC purchased a new position in Johnson & Johnson during the 4th quarter worth $40,000. WFA Asset Management Corp raised its holdings in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $45,000. Altshuler Shaham Ltd grew its stake in shares of Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after purchasing an additional 87 shares during the period. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth about $61,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $0.66 on Friday, reaching $147.08. 5,111,626 shares of the company traded hands, compared to its average volume of 7,280,428. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company’s 50 day moving average is $149.27 and its 200-day moving average is $154.85. The stock has a market capitalization of $353.97 billion, a PE ratio of 9.17, a P/E/G ratio of 2.43 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.68 EPS. As a group, analysts anticipate that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on JNJ shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Tuesday. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective for the company. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, May 6th. Finally, Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $174.07.

View Our Latest Report on JNJ

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

See Also

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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