Traynor Capital Management Inc. Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Traynor Capital Management Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,619 shares of the company’s stock after selling 823 shares during the quarter. Traynor Capital Management Inc.’s holdings in Johnson & Johnson were worth $523,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Dark Forest Capital Management LP purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth $223,000. Peloton Wealth Strategists increased its stake in Johnson & Johnson by 3.1% during the second quarter. Peloton Wealth Strategists now owns 16,749 shares of the company’s stock worth $2,448,000 after acquiring an additional 496 shares during the last quarter. Texas Capital Bancshares Inc TX raised its holdings in shares of Johnson & Johnson by 26.3% in the 2nd quarter. Texas Capital Bancshares Inc TX now owns 5,268 shares of the company’s stock worth $770,000 after purchasing an additional 1,096 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Johnson & Johnson by 25.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,997 shares of the company’s stock valued at $730,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Bontempo Ohly Capital Mgmt LLC grew its holdings in shares of Johnson & Johnson by 0.8% during the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 14,650 shares of the company’s stock worth $2,141,000 after purchasing an additional 115 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $146.76 on Friday. The firm has a market cap of $353.34 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The firm’s 50-day simple moving average is $147.85 and its 200-day simple moving average is $155.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

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 return on equity of 34.35% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22,438,500 billion. During the same quarter last year, the business posted $2.29 EPS. Johnson & Johnson’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Johnson & Johnson will post 10.56 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. Shareholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JNJ shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday. Bank of America decreased their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays reduced their price objective on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Leerink Partners reduced their price target on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.06.

Insider Activity

In related news, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.