Gray Wealth Management Inc. Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Gray Wealth Management Inc. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,085 shares of the company’s stock after selling 1,973 shares during the period. Johnson & Johnson makes up 1.0% of Gray Wealth Management Inc.’s investment portfolio, making the stock its 25th largest holding. Gray Wealth Management Inc.’s holdings in Johnson & Johnson were worth $2,760,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IFS Advisors LLC grew its stake in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth $32,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Johnson & Johnson in the third quarter worth $35,000. Activest Wealth Management bought a new position in shares of Johnson & Johnson during the third quarter valued at $40,000. Finally, NewSquare Capital LLC boosted its stake in Johnson & Johnson by 145.8% in the 4th quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock worth $42,000 after purchasing an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. 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 the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.0 %

NYSE:JNJ opened at $162.94 on Monday. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The business has a fifty day moving average price of $154.98 and a 200-day moving average price of $156.27. The firm has a market capitalization of $392.29 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter in the prior year, the business posted $2.29 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.04%. Johnson & Johnson’s payout ratio is presently 74.59%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JNJ. Leerink Partners reduced their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 10th. Morgan Stanley cut their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup dropped their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Nine research 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Company Profile

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.