Overbrook Management Corp Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Overbrook Management Corp lowered its stake in Johnson & Johnson (NYSE:JNJ) by 55.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,845 shares of the company’s stock after selling 3,610 shares during the quarter. Overbrook Management Corp’s holdings in Johnson & Johnson were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Highline Wealth Partners LLC purchased a new stake in Johnson & Johnson in the third quarter worth approximately $31,000. RPg Family Wealth Advisory LLC purchased a new stake in Johnson & Johnson in the third quarter worth approximately $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost 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 approximately $147,220. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JNJ shares. Citigroup dropped their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Bank of America dropped their price target on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Guggenheim raised their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $173.27.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $145.39 on Thursday. 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 company has a market cap of $350.04 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.50 and a beta of 0.51. The firm’s fifty day moving average is $148.26 and its two-hundred day moving average is $156.12. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $168.85.

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, beating analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22,438,500 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.29 EPS. As a group, analysts anticipate that Johnson & Johnson will post 9.95 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.41%. Johnson & Johnson’s payout ratio is currently 71.78%.

About Johnson & Johnson

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.