Byrne Asset Management LLC Has $2.71 Million Stake in Johnson & Johnson (NYSE:JNJ)

Byrne Asset Management LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,725 shares of the company’s stock after selling 116 shares during the period. Johnson & Johnson makes up 1.9% of Byrne Asset Management LLC’s portfolio, making the stock its 10th largest position. Byrne Asset Management LLC’s holdings in Johnson & Johnson were worth $2,708,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in JNJ. IFS Advisors LLC boosted its position in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares in the last quarter. Highline Wealth Partners LLC bought a new stake in Johnson & Johnson during the 3rd quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new stake in Johnson & Johnson during the 3rd quarter valued at approximately $35,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $32,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Johnson & Johnson by 58.7% during the 3rd 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 in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Up 1.3 %

Shares of JNJ stock opened at $156.18 on Wednesday. The stock has a market cap of $376.02 billion, a P/E ratio of 23.49, a PEG ratio of 2.46 and a beta of 0.52. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $147.40 and its two-hundred day simple moving average is $156.04.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. Analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is 74.59%.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Raymond James lowered their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, January 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Bank of America lowered their target price on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Insider Activity

In other news, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, with a total value of $147,220.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

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.