Johnson & Johnson (NYSE:JNJ) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,416 shares of the company’s stock after selling 2,369 shares during the quarter. Johnson & Johnson comprises 0.9% of Patten & Patten Inc. TN’s holdings, making the stock its 28th biggest position. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $13,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Vinva Investment Management Ltd increased its stake in shares of Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after acquiring an additional 7,110 shares during the period. Financial Counselors Inc. boosted its holdings in Johnson & Johnson by 5.3% during the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after buying an additional 9,309 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth $949,000. Horan Securities Inc. boosted its holdings in Johnson & Johnson by 1.3% during the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock worth $1,038,000 after buying an additional 90 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Johnson & Johnson by 57.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after buying an additional 1,271 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Bank of America increased their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Stifel Nicolaus lowered their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $162.94 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a market cap of $392.29 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47. The company’s 50-day moving average price is $154.98 and its 200-day moving average price is $156.32. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same period last year, the business earned $2.29 earnings per share. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.04%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

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.