Cubic Asset Management LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

Cubic Asset Management LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,060 shares of the company’s stock after selling 1,439 shares during the period. Johnson & Johnson accounts for approximately 1.5% of Cubic Asset Management LLC’s portfolio, making the stock its 20th largest position. Cubic Asset Management LLC’s holdings in Johnson & Johnson were worth $5,652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JNJ. Moneta Group Investment Advisors LLC lifted its holdings in Johnson & Johnson by 90,144.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 54,386,720 shares of the company’s stock worth $9,607,414,000 after buying an additional 54,326,454 shares during the period. Norges Bank bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $4,609,399,000. Morgan Stanley increased its stake in shares of Johnson & Johnson by 12.0% during the fourth quarter. Morgan Stanley now owns 42,224,521 shares of the company’s stock valued at $7,458,962,000 after purchasing an additional 4,521,062 shares in the last quarter. Barclays PLC increased its stake in shares of Johnson & Johnson by 61.0% during the second quarter. Barclays PLC now owns 11,287,765 shares of the company’s stock valued at $1,868,351,000 after purchasing an additional 4,278,512 shares in the last quarter. Finally, Imprint Wealth LLC increased its stake in shares of Johnson & Johnson by 17,087.7% during the second quarter. Imprint Wealth LLC now owns 2,913,480 shares of the company’s stock valued at $291,348,000 after purchasing an additional 2,896,529 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares in the company, valued at approximately $22,099,078.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Trading Down 0.9 %

Shares of Johnson & Johnson stock opened at $148.78 on Friday. The company’s fifty day simple moving average is $157.42 and its 200-day simple moving average is $156.08. The stock has a market capitalization of $358.53 billion, a PE ratio of 10.77, a P/E/G ratio of 2.55 and a beta of 0.53. Johnson & Johnson has a 1-year low of $144.95 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, January 23rd. The company reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.01. Johnson & Johnson had a net margin of 37.79% and a return on equity of 37.27%. The company had revenue of $21.40 billion for the quarter, compared to analysts’ expectations of $21.02 billion. During the same quarter in the previous year, the company earned $2.35 EPS. Johnson & Johnson’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on JNJ. Morgan Stanley decreased their target price on shares of Johnson & Johnson from $170.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, March 13th. Raymond James raised their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Wednesday, February 28th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $177.31.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.