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Patten & Patten Inc. TN Sells 852 Shares of Johnson & Johnson (NYSE:JNJ)

Patten & Patten Inc. TN decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,939 shares of the company’s stock after selling 852 shares during the period. Johnson & Johnson makes up 1.3% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 22nd largest holding. Patten & Patten Inc. TN’s holdings in Johnson & Johnson were worth $12,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Phocas Financial Corp. boosted its stake in shares of Johnson & Johnson by 999,928.6% during the 2nd quarter. Phocas Financial Corp. now owns 125,173,583 shares of the company’s stock valued at $1,743,000 after purchasing an additional 125,161,066 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Johnson & Johnson by 5,447.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 16,924,656 shares of the company’s stock valued at $2,357,266,000 after purchasing an additional 16,619,550 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Johnson & Johnson by 11.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,791,713 shares of the company’s stock valued at $2,895,870,000 after purchasing an additional 2,204,757 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 225,158,988 shares of the company’s stock valued at $31,360,143,000 after purchasing an additional 1,627,370 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Johnson & Johnson by 16.9% during the 3rd quarter. California Public Employees Retirement System now owns 10,198,888 shares of the company’s stock valued at $1,319,532,000 after purchasing an additional 1,477,454 shares in the last quarter. 67.28% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:JNJ opened at $145.70 on Tuesday. Johnson & Johnson has a one year low of $125.00 and a one year high of $147.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.26 and a quick ratio of 1.00. The company’s 50-day simple moving average is $142.68 and its 200 day simple moving average is $134.72. The firm has a market capitalization of $381.78 billion, a P/E ratio of 17.81, a PEG ratio of 2.33 and a beta of 0.71.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.00 by $0.12. Johnson & Johnson had a net margin of 21.09% and a return on equity of 39.81%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $20.14 billion. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Johnson & Johnson’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 8.66 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 25th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.61%. The ex-dividend date is Monday, February 24th. Johnson & Johnson’s payout ratio is currently 46.45%.

A number of equities research analysts have recently weighed in on the stock. Barclays raised shares of Johnson & Johnson from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $140.00 to $173.00 in a research note on Thursday, December 19th. Sanford C. Bernstein raised shares of Johnson & Johnson from a “market perform” rating to an “outperform” rating and set a $155.00 target price on the stock in a research note on Friday, October 11th. Zacks Investment Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and set a $158.00 target price on the stock in a research note on Wednesday, December 18th. Raymond James cut their target price on shares of Johnson & Johnson from $146.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley raised shares of Johnson & Johnson from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $170.00 in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $159.33.

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 2,017 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $141.07, for a total value of $284,538.19. Following the completion of the transaction, the executive vice president now directly owns 51,736 shares of the company’s stock, valued at $7,298,397.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hubert Joly bought 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $141.28 per share, with a total value of $706,400.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $706,400. The disclosure for this purchase can be found here. Insiders own 0.23% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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