Stewart & Patten Co. LLC Sells 2,988 Shares of Johnson & Johnson (NYSE:JNJ)

Stewart & Patten Co. LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,069 shares of the company’s stock after selling 2,988 shares during the quarter. Johnson & Johnson makes up 5.4% of Stewart & Patten Co. LLC’s holdings, making the stock its largest holding. Stewart & Patten Co. LLC’s holdings in Johnson & Johnson were worth $30,749,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Red Wave Investments LLC grew its stake in shares of Johnson & Johnson by 2.0% during the second quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock worth $530,000 after buying an additional 59 shares during the last quarter. Veracity Capital LLC grew its stake in shares of Johnson & Johnson by 1.2% during the fourth quarter. Veracity Capital LLC now owns 5,027 shares of the company’s stock worth $888,000 after buying an additional 59 shares during the last quarter. Sandy Cove Advisors LLC grew its stake in shares of Johnson & Johnson by 1.6% during the third quarter. Sandy Cove Advisors LLC now owns 3,703 shares of the company’s stock worth $605,000 after buying an additional 60 shares during the last quarter. LCM Capital Management Inc grew its stake in shares of Johnson & Johnson by 0.7% in the fourth quarter. LCM Capital Management Inc now owns 9,437 shares of the company’s stock worth $1,667,000 after purchasing an additional 61 shares during the last quarter. Finally, Arbor Investment Advisors LLC grew its stake in shares of Johnson & Johnson by 2.3% in the fourth quarter. Arbor Investment Advisors LLC now owns 2,697 shares of the company’s stock worth $476,000 after purchasing an additional 61 shares during the last quarter. 67.94% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 1.1 %

Shares of NYSE JNJ traded down $1.65 during trading on Friday, hitting $152.38. 20,540,668 shares of the company traded hands, compared to its average volume of 7,984,710. The business’s fifty day moving average is $161.97 and its 200 day moving average is $167.91. Johnson & Johnson has a fifty-two week low of $150.71 and a fifty-two week high of $186.69. The firm has a market capitalization of $396.84 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 2.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 0.99.

Johnson & Johnson (NYSE:JNJ – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.13. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.76%. The firm had revenue of $23.71 billion for the quarter, compared to analyst estimates of $23.90 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts predict that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st were issued a $1.13 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio is presently 67.06%.

Insider Buying and Selling

In related news, insider James D. Swanson sold 1,062 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $154.66, for a total value of $164,248.92. Following the sale, the insider now owns 9,215 shares in the company, valued at approximately $1,425,191.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on JNJ. Piper Sandler reduced their price objective on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. Atlantic Securities boosted their price objective on shares of Johnson & Johnson from $160.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 25th. StockNews.com began coverage on shares of Johnson & Johnson in a research note on Thursday. They issued a “strong-buy” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Finally, Guggenheim started coverage on shares of Johnson & Johnson in a report on Tuesday, February 28th. They issued a “neutral” rating and a $161.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.73.

Johnson & Johnson Company Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and MedTech. The Consumer Health segment includes products focused on personal healthcare used in the Skin Health/Beauty, Over-the-Counter medicines, Baby Care, Oral Care, Women’s Health and Wound Care markets.