Abbot Financial Management Inc. Has $2.28 Million Position in Johnson & Johnson (NYSE:JNJ)

Abbot Financial Management Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,790 shares of the company’s stock after selling 188 shares during the period. Johnson & Johnson accounts for about 1.1% of Abbot Financial Management Inc.’s portfolio, making the stock its 22nd largest holding. Abbot Financial Management Inc.’s holdings in Johnson & Johnson were worth $2,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vinva Investment Management Ltd increased its stake in Johnson & Johnson by 6.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after buying an additional 7,110 shares during the last quarter. Financial Counselors Inc. increased its stake in Johnson & Johnson by 5.3% in the 3rd 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 during the last quarter. Oregon Pacific Wealth Management LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at $949,000. Strategic Financial Concepts LLC increased its stake in Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock valued at $501,000 after buying an additional 1,271 shares during the last quarter. Finally, Meridian Investment Counsel Inc. grew its position in shares of Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after acquiring an additional 3,710 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, February 19th. Citigroup decreased their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Raymond James decreased their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Guggenheim lifted their target price on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Stifel Nicolaus reduced their target price on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $171.33.

Insider Activity

In other news, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $165.22 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $397.79 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The firm has a 50-day moving average price of $152.11 and a two-hundred day moving average price of $156.19.

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

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s payout ratio is presently 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.