Rench Wealth Management Inc. Has $8.16 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Rench Wealth Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 56,391 shares of the company’s stock after selling 1,795 shares during the quarter. Johnson & Johnson makes up approximately 2.8% of Rench Wealth Management Inc.’s investment portfolio, making the stock its 9th largest holding. Rench Wealth Management Inc.’s holdings in Johnson & Johnson were worth $8,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Johnson & Johnson by 10.5% in the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company’s stock worth $562,723,000 after buying an additional 329,473 shares in the last quarter. Invst LLC increased its holdings in Johnson & Johnson by 394.0% during the 3rd quarter. Invst LLC now owns 10,290 shares of the company’s stock worth $1,668,000 after acquiring an additional 8,207 shares during the period. McIlrath & Eck LLC lifted its stake in Johnson & Johnson by 10.7% in the 3rd quarter. McIlrath & Eck LLC now owns 2,892 shares of the company’s stock worth $469,000 after purchasing an additional 279 shares in the last quarter. Passumpsic Savings Bank bought a new position in Johnson & Johnson in the 3rd quarter valued at $262,000. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in shares of Johnson & Johnson by 10.1% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 50,765 shares of the company’s stock worth $8,180,000 after purchasing an additional 4,640 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred 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 sale, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

JNJ opened at $154.08 on Tuesday. 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 stock’s 50 day simple moving average is $159.38 and its 200 day simple moving average is $155.11. The firm has a market cap of $371.31 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.56 and a beta of 0.49. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on JNJ. Stifel Nicolaus reduced their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. 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 research note on Thursday, January 23rd. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.50.

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.