Axxcess Wealth Management LLC Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Axxcess Wealth Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,792 shares of the company's stock after selling 7,438 shares during the quarter. Axxcess Wealth Management LLC's holdings in Johnson & Johnson were worth $14,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter worth about $4,390,037,000. GAMMA Investing LLC boosted its stake in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after buying an additional 7,185,977 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Johnson & Johnson by 26.4% in the first 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 during the period. Janus Henderson Group PLC boosted its stake in shares of Johnson & Johnson by 134.5% in the fourth 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 during the period. Finally, Northern Trust Corp boosted its stake in shares of Johnson & Johnson by 12.3% in the fourth 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 during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.9%

JNJ stock opened at $157.72 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company's 50 day moving average is $153.73 and its two-hundred day moving average is $154.35. The stock has a market cap of $379.48 billion, a P/E ratio of 17.54, a PEG ratio of 2.36 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.30%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group raised 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 note on Wednesday, April 9th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Bank of America lowered their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and an average target price of $171.00.

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.

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