Concurrent Investment Advisors LLC Sells 8,211 Shares of Johnson & Johnson (NYSE:JNJ)

Concurrent Investment Advisors LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 8.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 93,525 shares of the company’s stock after selling 8,211 shares during the period. Concurrent Investment Advisors LLC’s holdings in Johnson & Johnson were worth $13,526,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of JNJ. Hardy Reed LLC boosted its stake in Johnson & Johnson by 3.9% in the fourth quarter. Hardy Reed LLC now owns 12,901 shares of the company’s stock valued at $1,866,000 after acquiring an additional 488 shares during the last quarter. Advyzon Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $732,000. Handelsbanken Fonder AB grew its holdings in Johnson & Johnson by 2.7% during the fourth quarter. Handelsbanken Fonder AB now owns 1,541,425 shares of the company’s stock valued at $222,921,000 after purchasing an additional 39,826 shares during the period. Mcdaniel Terry & Co. increased its position in Johnson & Johnson by 5.3% in the fourth quarter. Mcdaniel Terry & Co. now owns 194,783 shares of the company’s stock worth $28,170,000 after buying an additional 9,780 shares during the last quarter. Finally, Wealth Alliance raised its stake in shares of Johnson & Johnson by 14.5% in the fourth quarter. Wealth Alliance now owns 16,836 shares of the company’s stock valued at $2,435,000 after buying an additional 2,127 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent research reports. Leerink Partners decreased their price objective on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Bank of America lowered their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Guggenheim lifted their price objective on shares of Johnson & Johnson from $162.00 to $166.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Argus raised Johnson & Johnson to a “strong-buy” rating in a report on Friday, January 24th. Finally, Morgan Stanley reduced their target price on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Trading Up 1.7 %

NYSE JNJ opened at $162.35 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock’s 50-day simple moving average is $148.93 and its two-hundred day simple moving average is $155.86. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $168.85. The company has a market capitalization of $390.87 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.56 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter in the previous year, the company posted $2.29 EPS. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 10.58 EPS 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. Investors of record on Tuesday, February 18th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is presently 74.59%.

Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were bought 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 owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by insiders.

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.