Ellis Investment Partners LLC Sells 1,215 Shares of Johnson & Johnson (NYSE:JNJ)

Ellis Investment Partners LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,041 shares of the company’s stock after selling 1,215 shares during the quarter. Ellis Investment Partners LLC’s holdings in Johnson & Johnson were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Vinva Investment Management Ltd boosted its holdings 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 purchasing an additional 7,110 shares during the period. Financial Counselors Inc. grew its holdings in shares of Johnson & Johnson by 5.3% during the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after purchasing an additional 9,309 shares during the last quarter. Oregon Pacific Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $949,000. Meridian Investment Counsel Inc. boosted its holdings in Johnson & Johnson by 19.6% in the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Johnson & Johnson by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after buying an additional 102,502 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mark A. Weinberger purchased 1,000 shares of the business’s 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 $147,220. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Schmid sold 403 shares of the business’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 value of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

JNJ has been the subject of a number of research analyst reports. Raymond James decreased their target price on Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. 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. Guggenheim lifted their price target on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Bank of America decreased their target price on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Finally, Leerink Partners lowered their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $155.04 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The business has a 50 day moving average of $148.00 and a 200-day moving average of $155.91. The company has a market capitalization of $373.27 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.46 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period last year, the company earned $2.29 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio is currently 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.