Progressive Investment Management Corp Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Progressive Investment Management Corp lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,362 shares of the company’s stock after selling 97 shares during the period. Progressive Investment Management Corp’s holdings in Johnson & Johnson were worth $1,354,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. IFS Advisors LLC boosted its position in shares of Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson during the 4th quarter valued at about $29,000. Bay Harbor Wealth Management LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at about $32,000. Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $38,000. Finally, NewSquare Capital LLC lifted its position in shares of Johnson & Johnson by 145.8% during the fourth quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock worth $42,000 after purchasing an additional 172 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the 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 sale, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at $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. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Up 0.3 %

NYSE JNJ opened at $163.63 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a market capitalization of $394.32 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The firm’s fifty day moving average price is $158.68 and its 200 day moving average price is $156.21.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup dropped their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Leerink Partners dropped their price target on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Barclays boosted their target price on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus decreased their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $171.33.

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.