Summit Global Investments Sells 2,069 Shares of Johnson & Johnson (NYSE:JNJ)

Summit Global Investments trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 43.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,685 shares of the company’s stock after selling 2,069 shares during the period. Summit Global Investments’ holdings in Johnson & Johnson were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Johnson & Johnson in the 4th quarter worth approximately $1,339,878,000. Janus Henderson Group PLC increased its holdings in Johnson & Johnson by 228.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after acquiring an additional 2,356,359 shares during the last quarter. Franklin Resources Inc. lifted its stake in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares in the last quarter. Amundi boosted its holdings in shares of Johnson & Johnson by 16.2% during the 4th quarter. Amundi now owns 11,930,183 shares of the company’s stock valued at $1,698,984,000 after purchasing an additional 1,660,458 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Johnson & Johnson in the third quarter worth about $225,040,000. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several research analyst reports. Citigroup cut their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Barclays boosted 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. Stifel Nicolaus lowered their price objective 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. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Finally, Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $171.33.

Insider Activity

In other news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Timothy Schmid sold 403 shares of the company’s 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 sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $163.43 on Tuesday. The company’s 50-day simple moving average is $157.37 and its two-hundred day simple moving average is $156.16. 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 has a one year low of $140.68 and a one year high of $169.99. The company has a market capitalization of $393.83 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.56 and a beta of 0.47.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $22.44 billion. During the same period in the previous year, the company posted $2.29 EPS. Johnson & Johnson’s revenue was up 5.3% on a year-over-year basis. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.04%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s payout ratio is 74.59%.

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.