Edge Wealth Management LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Edge Wealth Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 76,445 shares of the company’s stock after selling 1,704 shares during the quarter. Johnson & Johnson accounts for about 2.2% of Edge Wealth Management LLC’s holdings, making the stock its 18th largest holding. Edge Wealth Management LLC’s holdings in Johnson & Johnson were worth $11,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its position in Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after buying an additional 1,154,088 shares during the period. Geode Capital Management LLC boosted its holdings in Johnson & Johnson by 1.8% during 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 acquiring an additional 1,004,763 shares during the period. FMR LLC grew its position in Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after acquiring an additional 1,265,748 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Johnson & Johnson by 0.6% in the 3rd 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 period. Finally, Franklin Resources Inc. boosted its stake in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $147.03 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The business’s fifty day moving average is $148.68 and its 200 day moving average is $155.96. The company has a market capitalization of $353.99 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the business posted $2.66 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm 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 $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wolfe Research started coverage on Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Guggenheim upped their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Citigroup dropped their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.29.

Insider Transactions at Johnson & Johnson

In other news, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.