Ellis Investment Partners LLC Sells 1,215 Shares of Johnson & Johnson (NYSE:JNJ)

Ellis Investment Partners LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 11.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,041 shares of the company’s stock after selling 1,215 shares during the quarter. Ellis Investment Partners LLC’s holdings in Johnson & Johnson were worth $1,307,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its stake in 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 purchasing an additional 100 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson during the third quarter worth about $31,000. Bay Harbor Wealth Management LLC purchased a new position in shares of 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 3rd quarter valued at $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.04 on Wednesday. The stock has a market capitalization of $373.27 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.52. The business has a 50 day simple moving average of $148.00 and a 200-day simple moving average of $155.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 earnings per share. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent research reports. Bank of America cut their target price on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Leerink Partners cut their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Citigroup reduced their price target 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. Finally, Guggenheim lifted their price objective on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $170.67.

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.