Johnson & Johnson (NYSE:JNJ) Stake Cut by Bank of Montreal Can

Bank of Montreal Can cut its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,250,399 shares of the company’s stock after selling 575,587 shares during the quarter. Johnson & Johnson accounts for about 0.8% of Bank of Montreal Can’s investment portfolio, making the stock its 24th largest holding. Bank of Montreal Can owned about 0.31% of Johnson & Johnson worth $1,427,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in JNJ. Steward Financial Group LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth $34,000. Jackson Wealth Management LLC increased its position in Johnson & Johnson by 1.7% in the third quarter. Jackson Wealth Management LLC now owns 16,959 shares of the company’s stock worth $40,000 after buying an additional 277 shares during the period. Iron Horse Wealth Management LLC increased its position in Johnson & Johnson by 29.9% in the fourth quarter. Iron Horse Wealth Management LLC now owns 265 shares of the company’s stock worth $45,000 after buying an additional 61 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its position in Johnson & Johnson by 290.7% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 293 shares of the company’s stock worth $47,000 after buying an additional 218 shares during the period. Finally, Bell Investment Advisors Inc acquired a new stake in Johnson & Johnson in the third quarter worth $76,000. Hedge funds and other institutional investors own 68.78% of the company’s stock.

In other news, insider William Hait sold 29,699 shares of the stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $183.58, for a total transaction of $5,452,142.42. Following the transaction, the insider now owns 80,236 shares in the company, valued at approximately $14,729,724.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thibaut Mongon sold 23,681 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $176.25, for a total transaction of $4,173,776.25. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on the company. Morgan Stanley dropped their target price on Johnson & Johnson from $175.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 6th. Raymond James upped their price objective on shares of Johnson & Johnson from $195.00 to $196.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. The Goldman Sachs Group raised their target price on shares of Johnson & Johnson from $163.00 to $181.00 and gave the company a “neutral” rating in a research note on Tuesday, April 12th. Bank of America began coverage on shares of Johnson & Johnson in a research note on Wednesday, March 2nd. They issued a “neutral” rating for the company. Finally, StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 30th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Buy” and a consensus target price of $187.86.

Shares of JNJ stock traded down $0.06 during trading hours on Tuesday, reaching $178.02. 261,710 shares of the stock traded hands, compared to its average volume of 8,167,274. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69. The business has a fifty day moving average price of $178.11 and a 200 day moving average price of $170.61. The company has a quick ratio of 1.14, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $468.44 billion, a PE ratio of 24.00, a PEG ratio of 2.92 and a beta of 0.66.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.60 by $0.07. Johnson & Johnson had a net margin of 20.90% and a return on equity of 36.59%. The business had revenue of $23.43 billion for the quarter, compared to analyst estimates of $23.62 billion. During the same quarter in the previous year, the business earned $2.59 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, May 23rd. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.06. Johnson & Johnson’s dividend payout ratio is currently 57.14%.

About Johnson & Johnson (Get Rating)

Johnson & Johnson researches and develops, manufactures, and sells various products in the healthcare field worldwide. It operates in three segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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