Arrow Financial Corp Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Arrow Financial Corp lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,608 shares of the company's stock after selling 9,657 shares during the quarter. Arrow Financial Corp's holdings in Johnson & Johnson were worth $3,418,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $4,390,037,000. GAMMA Investing LLC lifted its holdings in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Johnson & Johnson by 134.5% in the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Up 2.2%

JNJ traded up $3.54 on Tuesday, reaching $167.90. The company's stock had a trading volume of 9,277,637 shares, compared to its average volume of 8,146,145. The stock has a 50 day moving average of $154.29 and a two-hundred day moving average of $155.12. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $403.99 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.08 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $2.82 earnings per share. As a group, analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JNJ shares. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Guggenheim reaffirmed a "neutral" rating and issued a $167.00 target price (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Raymond James Financial dropped their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $172.87.

Johnson & Johnson Company Profile

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.