Coastline Trust Co Has $1.78 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Coastline Trust Co reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,290 shares of the company’s stock after selling 1,186 shares during the quarter. Coastline Trust Co’s holdings in Johnson & Johnson were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $4,390,037,000. Raymond James Financial Inc. acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $1,339,878,000. Vanguard Group Inc. boosted its holdings in shares of Johnson & Johnson by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after acquiring an additional 1,772,706 shares during the period. Franklin Resources Inc. grew its position in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the last quarter. Finally, Amundi lifted its holdings in Johnson & Johnson by 16.2% during the 4th quarter. Amundi now owns 11,930,183 shares of the company’s stock worth $1,698,984,000 after purchasing an additional 1,660,458 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Leerink Partners lowered their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Bank of America lowered their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Stifel Nicolaus dropped their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Wednesday. Nine research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.82.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $157.42 on Friday. The business’s 50 day simple moving average is $159.49 and its 200 day simple moving average is $155.03. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock has a market capitalization of $379.37 billion, a PE ratio of 23.67, a PEG ratio of 2.56 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.30%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Timothy Schmid sold 403 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 trade represents 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 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.