Bridges Investment Management Inc. Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Bridges Investment Management Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 80,612 shares of the company’s stock after selling 4,359 shares during the period. Bridges Investment Management Inc.’s holdings in Johnson & Johnson were worth $11,658,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JNJ. Wealth Group Ltd. purchased a new stake in shares of Johnson & Johnson in the 3rd quarter valued at about $213,000. Swedbank AB raised its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Swedbank AB now owns 2,215,108 shares of the company’s stock valued at $358,980,000 after acquiring an additional 111,570 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of Johnson & Johnson by 20.1% in the 3rd quarter. Clear Creek Financial Management LLC now owns 6,106 shares of the company’s stock valued at $990,000 after acquiring an additional 1,024 shares in the last quarter. Optas LLC raised its holdings in shares of Johnson & Johnson by 11.4% in the 3rd quarter. Optas LLC now owns 5,779 shares of the company’s stock valued at $937,000 after acquiring an additional 592 shares in the last quarter. Finally, Private Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 5.6% in the 3rd quarter. Private Wealth Partners LLC now owns 80,427 shares of the company’s stock valued at $13,034,000 after acquiring an additional 4,234 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $167.08 on Tuesday. The firm has a market cap of $402.26 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The business’s 50 day moving average price is $151.33 and its 200-day moving average price is $156.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.29 EPS. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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 is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on JNJ. Bank of America lowered their price target on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Citigroup decreased their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday, February 19th. Leerink Partners decreased their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Stifel Nicolaus decreased their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $170.67.

Johnson & Johnson Profile

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.