MainStreet Investment Advisors LLC Has $11.21 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

MainStreet Investment Advisors LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,535 shares of the company’s stock after selling 2,276 shares during the period. Johnson & Johnson comprises about 1.6% of MainStreet Investment Advisors LLC’s holdings, making the stock its 16th largest position. MainStreet Investment Advisors LLC’s holdings in Johnson & Johnson were worth $11,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Johnson & Johnson during the fourth quarter worth $4,390,037,000. Raymond James Financial Inc. acquired a new stake in shares of Johnson & Johnson in the fourth quarter worth about $1,339,878,000. Janus Henderson Group PLC boosted its stake in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after acquiring an additional 1,772,706 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on JNJ shares. Bank of America lowered their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Raymond James lowered their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Ten investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $148.71 on Wednesday. The stock’s fifty day simple moving average is $157.33 and its 200 day simple moving average is $154.14. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm has a market cap of $357.81 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. On average, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, May 27th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.50%. Johnson & Johnson’s dividend payout ratio is 57.84%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at approximately $3,483,645.88. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction dated 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 sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

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.