Birmingham Capital Management Co. Inc. AL Trims Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Birmingham Capital Management Co. Inc. AL reduced its stake in Johnson & Johnson (NYSE:JNJ) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,576 shares of the company’s stock after selling 500 shares during the quarter. Johnson & Johnson accounts for 2.5% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 12th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Johnson & Johnson were worth $6,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after buying an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after purchasing an additional 1,831,751 shares in the last quarter. FMR LLC lifted its stake in shares of Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after buying an additional 102,502 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JNJ. Bank of America reissued a “neutral” rating and set a $166.00 price target on shares of Johnson & Johnson in a research note on Tuesday. Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Wells Fargo & Company raised their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.73.

Johnson & Johnson Stock Performance

NYSE JNJ traded down $0.33 during trading hours on Friday, reaching $145.91. The company’s stock had a trading volume of 1,200,357 shares, compared to its average volume of 7,093,340. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $157.01 and a 200 day simple moving average of $156.28. The stock has a market cap of $351.30 billion, a PE ratio of 21.16, a PEG ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.66 EPS. Equities research analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.