Perigon Wealth Management LLC Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Perigon Wealth Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 3.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 89,056 shares of the company’s stock after selling 3,408 shares during the quarter. Perigon Wealth Management LLC’s holdings in Johnson & Johnson were worth $13,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Powers Advisory Group LLC increased its stake in Johnson & Johnson by 0.6% in the third quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock valued at $1,538,000 after purchasing an additional 61 shares during the last quarter. Eagle Wealth Strategies LLC grew its position in shares of Johnson & Johnson by 2.8% in the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after buying an additional 63 shares during the last quarter. Knuff & Co LLC lifted its position in Johnson & Johnson by 0.7% in the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after acquiring an additional 64 shares during the last quarter. Perkins Coie Trust Co boosted its stake in Johnson & Johnson by 1.8% in the third quarter. Perkins Coie Trust Co now owns 3,705 shares of the company’s stock valued at $600,000 after acquiring an additional 65 shares in the last quarter. Finally, Vertex Planning Partners LLC grew its holdings in shares of Johnson & Johnson by 1.3% during the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock worth $844,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on JNJ shares. Barclays upped their target price on Johnson & Johnson from $159.00 to $166.00 and gave the company an “equal weight” rating in a research report on Tuesday. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Wolfe Research started 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 for the company. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, January 23rd. Finally, Raymond James decreased their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.44.

Insider Activity

In other Johnson & Johnson news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction that occurred 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 purchase, the director now owns 1,000 shares in the company, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $152.09 on Friday. The company’s fifty day moving average is $147.67 and its two-hundred day moving average is $156.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a market capitalization of $366.17 billion, a P/E ratio of 22.87, a PEG ratio of 2.43 and a beta of 0.51. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85.

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 the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same period in the prior year, the business posted $2.29 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 10.58 EPS 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. Shareholders of record on Tuesday, February 18th will be given 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 3.26%. Johnson & Johnson’s payout ratio is 74.59%.

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.