Brookmont Capital Management Sells 3,034 Shares of Johnson & Johnson (NYSE:JNJ)

Brookmont Capital Management lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,557 shares of the company’s stock after selling 3,034 shares during the quarter. Johnson & Johnson makes up approximately 0.9% of Brookmont Capital Management’s holdings, making the stock its 28th biggest holding. Brookmont Capital Management’s holdings in Johnson & Johnson were worth $1,671,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. State Street Corp lifted its position in Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares during the period. Geode Capital Management LLC lifted its position in Johnson & Johnson by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. FMR LLC lifted its position in Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after purchasing an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Johnson & Johnson by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after purchasing an additional 102,502 shares during the period. Finally, Franklin Resources Inc. lifted its position in Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at approximately $147,220. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Guggenheim increased their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Raymond James cut their price target on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday. Leerink Partners cut their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Citigroup cut their price target on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.06.

Johnson & Johnson Price Performance

NYSE JNJ opened at $146.58 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a market capitalization of $352.91 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The firm’s 50 day moving average is $148.10 and its 200-day moving average is $156.05.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22,438,500 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 9.95 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors 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 yield of 3.38%. Johnson & Johnson’s payout ratio is 71.78%.

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.