Pitti Group Wealth Management LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Pitti Group Wealth Management LLC decreased its stake in Johnson & Johnson (NYSE:JNJ) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,356 shares of the company’s stock after selling 586 shares during the period. Johnson & Johnson accounts for about 3.1% of Pitti Group Wealth Management LLC’s holdings, making the stock its 8th biggest position. Pitti Group Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,089,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. IFS Advisors LLC raised its position in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after acquiring an additional 100 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in Johnson & Johnson in the third quarter worth about $35,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth about $32,000. Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the third quarter valued at approximately $40,000. Finally, NewSquare Capital LLC raised its position in shares of Johnson & Johnson by 145.8% in the fourth quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock valued at $42,000 after purchasing an additional 172 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on JNJ. Barclays boosted their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 10th. Leerink Partners lowered their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Argus raised shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Finally, Raymond James reduced their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Nine investment 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Price Performance

JNJ stock opened at $162.94 on Monday. 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 has a one year low of $140.68 and a one year high of $169.99. The stock has a market cap of $392.29 billion, a PE ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47. The firm has a 50 day simple moving average of $154.98 and a two-hundred day simple moving average of $156.27.

Johnson & Johnson (NYSE:JNJ) last released 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. The business had revenue of $22.52 billion during 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 34.24%. 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. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Insider Transactions at Johnson & Johnson

In other news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the business’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 completion of the sale, the vice president now owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.