Tobam Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Tobam lowered its stake in Johnson & Johnson (NYSE:JNJ) by 51.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,718 shares of the company’s stock after selling 34,004 shares during the period. Johnson & Johnson comprises 1.5% of Tobam’s investment portfolio, making the stock its 20th biggest position. Tobam’s holdings in Johnson & Johnson were worth $4,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFS Advisors LLC lifted its holdings in Johnson & Johnson by 138.9% during 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. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $31,000. Bay Harbor Wealth Management LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson in the third quarter valued at approximately $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on JNJ. Raymond James dropped their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research 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 research report on Wednesday, October 16th. Bank of America decreased their target price on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Leerink Partners reduced their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $154.22 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $147.42 and a 200-day simple moving average of $156.08. The company has a market cap of $371.31 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.22%. Johnson & Johnson’s payout ratio is 74.59%.

Insider Buying and Selling

In other news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.