BlackDiamond Wealth Management LLC Has $1.10 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

BlackDiamond Wealth Management LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,594 shares of the company’s stock after selling 714 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,098,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC lifted its stake in Johnson & Johnson by 1.8% during the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. FMR LLC lifted its stake in Johnson & Johnson by 7.4% during the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Johnson & Johnson by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company’s stock worth $2,630,216,000 after purchasing an additional 547,714 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Johnson & Johnson by 11.4% during 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 during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stifel Nicolaus cut their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley cut their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, February 19th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Monday, March 10th. Finally, Wells Fargo & Company cut their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $171.33.

Insider Activity

In related news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction 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 $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. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

JNJ opened at $162.94 on Tuesday. The company has a fifty day moving average price of $155.37 and a two-hundred day moving average price of $156.26. 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 has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a market capitalization of $392.66 billion, a PE ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

About Johnson & Johnson

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.