Summit Financial Strategies Inc. Sells 507 Shares of Johnson & Johnson (NYSE:JNJ)

Summit Financial Strategies Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,207 shares of the company’s stock after selling 507 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Johnson & Johnson were worth $753,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at approximately $147,220. This trade 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 at the SEC website. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent analyst reports. Bank of America lowered their target price on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley cut their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Guggenheim boosted 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. Raymond James dropped their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.44.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $152.78 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. 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 stock has a market cap of $367.82 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 2.45 and a beta of 0.51. The firm’s fifty day moving average price is $147.73 and its 200-day moving average price is $156.10.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter last year, the business posted $2.29 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.56 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared 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. This represents a $4.96 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 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.