TRUE Private Wealth Advisors Decreases Stake in Johnson & Johnson (NYSE:JNJ)

TRUE Private Wealth Advisors reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.2% during the 4th quarter, HoldingsChannel reports. The firm owned 30,578 shares of the company’s stock after selling 694 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Johnson & Johnson were worth $4,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JNJ. IFS Advisors LLC grew its holdings in shares of Johnson & Johnson by 138.9% in the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after purchasing an additional 100 shares during the period. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the fourth quarter valued at about $29,000. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $32,000. Finally, Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.9 %

Shares of NYSE:JNJ opened at $149.24 on Wednesday. The company has a market cap of $359.63 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 2.56 and a beta of 0.49. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm’s 50-day simple moving average is $159.63 and its 200-day simple moving average is $155.51. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

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

Insider Activity at Johnson & Johnson

In other news, 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 transaction of $62,928.45. Following the completion of the sale, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on JNJ. Citigroup cut their price target 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 restated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Morgan Stanley dropped their price objective on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Raymond James cut their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Bank of America increased their target price on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson Company 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.