Wendell David Associates Inc. Sells 358 Shares of Johnson & Johnson (NYSE:JNJ)

Wendell David Associates Inc. lessened its position in Johnson & Johnson (NYSE:JNJ) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,184 shares of the company’s stock after selling 358 shares during the quarter. Johnson & Johnson accounts for 1.8% of Wendell David Associates Inc.’s portfolio, making the stock its 16th largest position. Wendell David Associates Inc.’s holdings in Johnson & Johnson were worth $18,063,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JNJ. Norges Bank purchased a new position in Johnson & Johnson during the 4th quarter worth $4,071,642,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after acquiring an additional 241,799 shares in the last quarter. California Public Employees Retirement System lifted its stake in Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Johnson & Johnson by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares during the period. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder & Johnson Johnson sold 3,725 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the transaction, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Raymond James upped their target price on Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, April 15th. Finally, Royal Bank of Canada lowered their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $2.21 on Tuesday, hitting $144.61. 8,814,891 shares of the company were exchanged, compared to its average volume of 7,383,957. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38. The stock’s 50 day moving average price is $154.80 and its 200 day moving average price is $155.14. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a market capitalization of $348.48 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 2.41 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $2.68 earnings per share. Sell-side analysts predict that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.43%. Johnson & Johnson’s payout ratio is presently 29.68%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.