Patten & Patten Inc. TN trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 92,585 shares of the company’s stock after selling 680 shares during the quarter. Johnson & Johnson makes up about 1.3% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 19th largest holding. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $12,936,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of JNJ. Harding Loevner LP bought a new stake in shares of Johnson & Johnson during the second quarter valued at about $106,000. IHT Wealth Management LLC raised its stake in shares of Johnson & Johnson by 46.4% during the second quarter. IHT Wealth Management LLC now owns 10,942 shares of the company’s stock valued at $122,000 after purchasing an additional 3,467 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Johnson & Johnson during the second quarter valued at about $124,000. Lenox Wealth Management Inc. raised its stake in shares of Johnson & Johnson by 1.7% during the second quarter. Lenox Wealth Management Inc. now owns 1,457 shares of the company’s stock valued at $193,000 after purchasing an additional 24 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC acquired a new position in Johnson & Johnson during the second quarter worth about $200,000. Institutional investors own 67.23% of the company’s stock.
JNJ has been the topic of a number of research analyst reports. Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $150.89 target price on the stock in a report on Thursday, January 11th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, January 9th. Jefferies Group set a $165.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a report on Monday, February 26th. Zacks Investment Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Wednesday, March 28th. Finally, TheStreet lowered Johnson & Johnson from an “a” rating to a “c+” rating in a report on Monday, March 26th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Johnson & Johnson has an average rating of “Hold” and an average price target of $144.58.
In related news, VP Paulus Stoffels sold 155,342 shares of Johnson & Johnson stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $129.86, for a total value of $20,172,712.12. Following the transaction, the vice president now owns 357,906 shares of the company’s stock, valued at approximately $46,477,673.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.
Shares of JNJ opened at $128.10 on Monday. The stock has a market capitalization of $343,679.78, a P/E ratio of 17.55, a P/E/G ratio of 2.04 and a beta of 0.74. Johnson & Johnson has a 1-year low of $120.95 and a 1-year high of $148.32. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.12 and a current ratio of 1.41.
Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.02. The firm had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.08 billion. Johnson & Johnson had a return on equity of 29.00% and a net margin of 1.70%. Johnson & Johnson’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. equities analysts forecast that Johnson & Johnson will post 8.11 EPS for the current year.
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Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, RoC, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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