Arbor Trust Wealth Advisors LLC lowered its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,347 shares of the company’s stock after selling 2,347 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $918,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Vinva Investment Management Ltd increased its position in shares of Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after purchasing an additional 7,110 shares during the period. Financial Counselors Inc. boosted its stake in Johnson & Johnson by 5.3% in the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after buying an additional 9,309 shares in the last quarter. Meridian Investment Counsel Inc. boosted its stake in Johnson & Johnson by 19.6% in the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after buying an additional 3,710 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after buying an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Johnson & Johnson in the third quarter valued at about $69,859,000. Institutional investors own 69.55% of the company’s stock.
Insider Buying and Selling at Johnson & Johnson
In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the purchase, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.
Johnson & Johnson Price Performance
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 $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.37%. Johnson & Johnson’s payout ratio is currently 71.78%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Bank of America reduced their price objective on Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. Guggenheim lifted their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Finally, Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.29.
Check Out Our Latest Stock Analysis on JNJ
About Johnson & Johnson
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.
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