Concord Asset Management LLC VA Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Concord Asset Management LLC VA cut its stake in Johnson & Johnson (NYSE:JNJ) by 14.8% in the fourth quarter, Holdings Channel reports. The firm owned 20,716 shares of the company’s stock after selling 3,588 shares during the period. Concord Asset Management LLC VA’s holdings in Johnson & Johnson were worth $2,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Powers Advisory Group LLC lifted its stake in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after acquiring an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC lifted its stake in Johnson & Johnson by 2.8% in the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares during the last quarter. Knuff & Co LLC raised its position in shares of Johnson & Johnson by 0.7% in the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after purchasing an additional 64 shares during the period. Perkins Coie Trust Co raised its position in shares of Johnson & Johnson by 1.8% in the third quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after purchasing an additional 65 shares during the period. Finally, Vertex Planning Partners LLC raised its position in shares of Johnson & Johnson by 1.3% in the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock valued at $844,000 after purchasing an additional 65 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Guggenheim raised their price target on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America lowered their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Barclays raised their price target on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Morgan Stanley decreased their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $151.82 on Tuesday. The company has a fifty day moving average of $147.61 and a 200-day moving average of $156.12. The firm has a market capitalization of $365.53 billion, a P/E ratio of 22.83, a P/E/G ratio of 2.44 and a beta of 0.52. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 18.20% and a return on equity of 34.35%. Johnson & Johnson’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.29 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.27%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.