Titleist Asset Management LLC Decreases Position in Johnson & Johnson (NYSE:JNJ)

Titleist Asset Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 20.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,044 shares of the company’s stock after selling 2,857 shares during the period. Titleist Asset Management LLC’s holdings in Johnson & Johnson were worth $1,597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Oregon Pacific Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth about $949,000. Horan Securities Inc. increased its holdings in Johnson & Johnson by 1.3% during the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock worth $1,038,000 after purchasing an additional 90 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock valued at $501,000 after purchasing an additional 1,271 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Johnson & Johnson during the third quarter worth approximately $69,859,000. Finally, KPP Advisory Services LLC increased its stake in shares of Johnson & Johnson by 4.7% in the fourth quarter. KPP Advisory Services LLC now owns 11,492 shares of the company’s stock worth $1,662,000 after buying an additional 515 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $153.03 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $159.75 and its 200-day moving average is $155.84. The stock has a market cap of $368.77 billion, a PE ratio of 23.01, a price-to-earnings-growth 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.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JNJ. Leerink Partners decreased their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Citigroup lowered their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Morgan Stanley reduced their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Finally, Barclays raised their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.