Patriot Investment Management Group Inc. Sells 1,040 Shares of Johnson & Johnson (NYSE:JNJ)

Patriot Investment Management Group Inc. cut its stake in Johnson & Johnson (NYSE:JNJ) by 8.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,753 shares of the company’s stock after selling 1,040 shares during the period. Patriot Investment Management Group Inc.’s holdings in Johnson & Johnson were worth $1,700,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of JNJ. State Street Corp increased its holdings in shares of Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after buying an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC raised its position in Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after purchasing an additional 1,004,763 shares during the last quarter. FMR LLC boosted its stake in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $152.91 on Tuesday. The firm has a market capitalization of $368.15 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $147.85 and a 200-day moving average of $156.10.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22,438,500 billion. During the same quarter last year, the firm posted $2.29 earnings per share. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Johnson & Johnson will post 10.56 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is 74.59%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on JNJ shares. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Wolfe Research initiated coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Leerink Partners lowered their target price on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Buying and Selling

In other news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

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.