Westchester Capital Management Inc. Has $9 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Westchester Capital Management Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,209 shares of the company’s stock after selling 1,117 shares during the quarter. Johnson & Johnson comprises about 2.3% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 19th largest holding. Westchester Capital Management Inc.’s holdings in Johnson & Johnson were worth $8,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vinva Investment Management Ltd increased its holdings in Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares during the last quarter. Financial Counselors Inc. increased its holdings in shares of Johnson & Johnson by 5.3% in the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after acquiring an additional 9,309 shares in the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter worth about $949,000. Horan Securities Inc. increased its holdings in shares of Johnson & Johnson by 1.3% in the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock worth $1,038,000 after acquiring an additional 90 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Johnson & Johnson by 57.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after acquiring an additional 1,271 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 1.1 %

Shares of NYSE:JNJ opened at $165.86 on Wednesday. The company has a market capitalization of $399.33 billion, a price-to-earnings ratio of 24.94, a P/E/G 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. The business’s 50-day moving average is $153.86 and its 200-day moving average is $156.29. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the previous year, the business earned $2.29 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Stifel Nicolaus reduced their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley cut their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Wolfe Research began coverage on Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Finally, Barclays raised their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.