Tortoise Investment Management LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Tortoise Investment Management LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,976 shares of the company’s stock after selling 245 shares during the period. Tortoise Investment Management LLC’s holdings in Johnson & Johnson were worth $466,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Pathway Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after buying an additional 226 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Johnson & Johnson by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after buying an additional 15,490 shares during the period. OneAscent Financial Services LLC grew its stake in shares of Johnson & Johnson by 82.8% in the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after buying an additional 4,457 shares during the period. Vestmark Advisory Solutions Inc. grew its stake in shares of Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the period. Finally, TrueMark Investments LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $1,458,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, May 6th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America reduced their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE JNJ traded up $0.09 during mid-day trading on Friday, reaching $145.54. The company had a trading volume of 4,075,342 shares, compared to its average volume of 7,121,075. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $148.38 and a two-hundred day simple moving average of $154.67. The stock has a market cap of $350.27 billion, a P/E ratio of 9.07, a PEG ratio of 2.42 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period last year, the firm posted $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10.63 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.