Dock Street Asset Management Inc. Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Dock Street Asset Management Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 23.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,502 shares of the company’s stock after selling 774 shares during the quarter. Dock Street Asset Management Inc.’s holdings in Johnson & Johnson were worth $392,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $40,000. Tower View Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares in the last quarter. Creative Capital Management Investments LLC boosted its stake in shares of Johnson & Johnson by 43.0% during the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after purchasing an additional 86 shares in the last quarter. Altshuler Shaham Ltd boosted its stake in shares of Johnson & Johnson by 37.8% during the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after purchasing an additional 87 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. boosted its stake in shares of Johnson & Johnson by 216.7% during the third quarter. Mizuho Securities Co. Ltd. now owns 380 shares of the company’s stock valued at $59,000 after purchasing an additional 260 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on JNJ. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Royal Bank of Canada dropped their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Raymond James raised their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, April 15th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Stock Up 0.3 %

Shares of JNJ stock opened at $149.56 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The firm has a market capitalization of $360.41 billion, a PE ratio of 9.32, a P/E/G ratio of 2.44 and a beta of 0.53. The stock’s 50-day simple moving average is $155.83 and its 200-day simple moving average is $155.51.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the company earned $2.68 EPS. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Johnson & Johnson will post 10.65 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.