Torray Investment Partners LLC Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Torray Investment Partners LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 111,114 shares of the company’s stock after selling 150 shares during the period. Johnson & Johnson accounts for about 2.3% of Torray Investment Partners LLC’s investment portfolio, making the stock its 13th biggest holding. Torray Investment Partners LLC’s holdings in Johnson & Johnson were worth $16,069,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vinva Investment Management Ltd raised its stake in shares of Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after buying an additional 7,110 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after buying an additional 9,309 shares in the last quarter. Oregon Pacific Wealth Management LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $949,000. Strategic Financial Concepts LLC raised its stake in shares of Johnson & Johnson by 57.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock worth $501,000 after buying an additional 1,271 shares in the last quarter. Finally, Meridian Investment Counsel Inc. grew its holdings in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $165.22 on Thursday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The stock’s fifty day simple moving average is $152.11 and its 200-day simple moving average is $156.19. 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 stock has a market capitalization of $397.79 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 2.56 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. During the same quarter last year, the firm earned $2.29 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 74.59%.

Insider Buying and Selling

In related news, EVP Timothy Schmid sold 403 shares of the stock in a transaction 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 directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JNJ shares. Barclays upped their price target on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Guggenheim upped their price target on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wolfe Research started coverage on Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Stifel Nicolaus lowered their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Bank of America upped their price target on Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson 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.