Meyer Handelman Co. Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Meyer Handelman Co. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 137,353 shares of the company’s stock after selling 4,376 shares during the period. Meyer Handelman Co.’s holdings in Johnson & Johnson were worth $19,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Highline Wealth Partners LLC purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson during the third quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC increased its position in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the 3rd quarter worth about $40,000. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after purchasing an additional 200 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on JNJ shares. Wolfe Research started coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective on the stock. Citigroup decreased their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Morgan Stanley lifted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada raised their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.71.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 1.9 %

Shares of NYSE JNJ opened at $147.78 on Friday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The stock’s fifty day simple moving average is $148.86 and its two-hundred day simple moving average is $156.01. The stock has a market capitalization of $355.79 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion for 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 for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.66 earnings per share. As a group, analysts expect that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.36%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Johnson & Johnson Profile

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.