CIBC Private Wealth Group LLC Sells 17,102 Shares of Johnson & Johnson (NYSE:JNJ)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 823,980 shares of the company’s stock after selling 17,102 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Johnson & Johnson were worth $117,228,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Johnson & Johnson by 10.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock worth $562,723,000 after purchasing an additional 329,473 shares in the last quarter. United Bank raised its position in shares of Johnson & Johnson by 5.6% during the 3rd quarter. United Bank now owns 3,788 shares of the company’s stock valued at $614,000 after buying an additional 202 shares in the last quarter. Algert Global LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth $721,000. Fred Alger Management LLC grew its position in Johnson & Johnson by 5.2% in the third quarter. Fred Alger Management LLC now owns 45,184 shares of the company’s stock worth $7,323,000 after acquiring an additional 2,216 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Johnson & Johnson by 29.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,289,172 shares of the company’s stock valued at $533,043,000 after purchasing an additional 750,315 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 15,098 shares in the company, 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. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Up 0.3 %

Shares of Johnson & Johnson stock opened at $163.63 on Friday. 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 firm has a market cap of $394.32 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The business has a 50-day moving average price of $158.68 and a 200-day moving average price of $156.13.

Johnson & Johnson (NYSE:JNJ) last issued 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. The business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $4.96 annualized dividend and a yield of 3.03%. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on JNJ. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. 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 note on Thursday, January 23rd. Leerink Partners cut 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 increased their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Finally, Raymond James decreased their price objective on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Company 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.