Renaissance Investment Group LLC Has $892,000 Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Renaissance Investment Group LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 16.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,170 shares of the company’s stock after selling 1,195 shares during the quarter. Renaissance Investment Group LLC’s holdings in Johnson & Johnson were worth $892,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Summit Wealth Partners LLC grew its holdings in shares of Johnson & Johnson by 0.6% in the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares during the last quarter. Powers Advisory Group LLC grew its holdings in shares of Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after purchasing an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC grew its holdings in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after purchasing an additional 63 shares during the last quarter. Knuff & Co LLC grew its holdings in shares of Johnson & Johnson by 0.7% in the 3rd quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after purchasing an additional 64 shares during the last quarter. Finally, Perkins Coie Trust Co grew its holdings in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock worth $600,000 after purchasing an additional 65 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction that occurred 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 owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $147.03 on Tuesday. The company has a market capitalization of $353.99 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 2.30 and a beta of 0.51. The firm’s 50 day simple moving average is $148.51 and its 200 day simple moving average is $156.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors 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 dividend on an annualized basis and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio is 71.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JNJ shares. Wolfe Research started coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Guggenheim increased their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Citigroup decreased their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. 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. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $174.29.

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.