Cigna Investments Inc. New Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Cigna Investments Inc. New cut its stake in Johnson & Johnson (NYSE:JNJ) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,728 shares of the company’s stock after selling 127 shares during the period. Johnson & Johnson comprises about 0.6% of Cigna Investments Inc. New’s investment portfolio, making the stock its 24th largest position. Cigna Investments Inc. New’s holdings in Johnson & Johnson were worth $3,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC lifted its stake 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. Highline Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson in the 3rd quarter worth approximately $31,000. Bay Harbor Wealth Management LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC purchased a new position in Johnson & Johnson during the third quarter valued at approximately $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted 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 buying an additional 91 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $156.20 on Friday. The firm’s fifty day moving average is $147.73 and its two-hundred day moving average is $156.01. The firm has a market cap of $376.08 billion, a price-to-earnings ratio of 23.49, a PEG ratio of 2.46 and a beta of 0.52. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last posted its 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. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period last year, the company earned $2.29 earnings per share. Johnson & Johnson’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors 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 annualized dividend and a yield of 3.18%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JNJ. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, January 23rd. Bank of America decreased their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Finally, Stifel Nicolaus reduced their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $170.67.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was acquired 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 directly owns 1,000 shares of the company’s stock, valued at $147,220. This 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 the SEC website. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson 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.