Aspen Investment Management Inc Sells 1,436 Shares of Johnson & Johnson (NYSE:JNJ)

Aspen Investment Management Inc cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,711 shares of the company’s stock after selling 1,436 shares during the quarter. Aspen Investment Management Inc’s holdings in Johnson & Johnson were worth $1,549,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after buying an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC lifted its position in Johnson & Johnson by 1.8% in the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after buying an additional 1,004,763 shares during the last quarter. FMR LLC boosted its position in shares of Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares during the period. Finally, Franklin Resources Inc. grew its stake in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $162.35 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The business’s 50-day moving average is $148.93 and its two-hundred day moving average is $155.86. The firm has a market capitalization of $390.87 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a 1 year low of $140.68 and a 1 year 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the prior year, the company posted $2.29 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued 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 3.06%. Johnson & Johnson’s payout ratio is 74.59%.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Weinberger acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on JNJ shares. Wolfe Research started coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Citigroup cut 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 19th. Raymond James lowered their price objective on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus cut their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Nine research 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 company’s stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

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.