Cascades Capital Asset Management LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Cascades Capital Asset Management LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 8.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,236 shares of the company’s stock after selling 306 shares during the period. Cascades Capital Asset Management LLC’s holdings in Johnson & Johnson were worth $468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ilmarinen Mutual Pension Insurance Co boosted its position in Johnson & Johnson by 41.7% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 356,600 shares of the company’s stock worth $51,571,000 after purchasing an additional 105,000 shares during the last quarter. Nutshell Asset Management Ltd purchased a new stake in Johnson & Johnson in the fourth quarter worth $1,302,000. Russell Investments Group Ltd. lifted its position in shares of Johnson & Johnson by 7.0% during the 4th quarter. Russell Investments Group Ltd. now owns 2,438,453 shares of the company’s stock valued at $352,252,000 after buying an additional 158,873 shares during the last quarter. Rahlfs Capital LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at about $1,462,000. Finally, Hurley Capital LLC bought a new position in Johnson & Johnson during the fourth quarter worth about $164,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were 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 directly owns 21,001 shares in the company, valued at $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated Tuesday, February 18th. The stock was 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 in the company, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Trading Down 4.3 %

NYSE JNJ opened at $153.03 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $368.77 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.56 and a beta of 0.47. The stock’s 50-day simple moving average is $159.75 and its two-hundred day simple moving average is $155.91. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

JNJ has been the topic of several research reports. Wells Fargo & Company lowered their price target 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. Raymond James reduced their price target on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Stifel Nicolaus dropped their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Bank of America lifted their target price on Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Finally, Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average target price of $171.33.

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.