Bartlett & CO. Wealth Management LLC Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Bartlett & CO. Wealth Management LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 33.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 299,987 shares of the company's stock after selling 149,372 shares during the quarter. Bartlett & CO. Wealth Management LLC's holdings in Johnson & Johnson were worth $49,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its holdings in Johnson & Johnson by 4.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 385,653 shares of the company's stock valued at $63,957,000 after acquiring an additional 16,763 shares during the last quarter. Old North State Wealth Management LLC grew its position in shares of Johnson & Johnson by 1.4% in the first quarter. Old North State Wealth Management LLC now owns 6,486 shares of the company's stock valued at $1,076,000 after purchasing an additional 92 shares during the period. Transcend Capital Advisors LLC increased its stake in Johnson & Johnson by 4.2% in the first quarter. Transcend Capital Advisors LLC now owns 59,664 shares of the company's stock valued at $9,895,000 after purchasing an additional 2,422 shares during the last quarter. Wolff Financial Management LLC purchased a new position in Johnson & Johnson during the first quarter worth about $225,000. Finally, Santori & Peters Inc. acquired a new stake in Johnson & Johnson in the 1st quarter worth about $225,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on JNJ. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Barclays lowered their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $181.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 5th. Raymond James Financial lowered their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven investment 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Stock Up 1.6%

Johnson & Johnson stock traded up $2.38 during midday trading on Tuesday, hitting $155.13. 4,411,973 shares of the company were exchanged, compared to its average volume of 8,009,120. The company has a market cap of $373.26 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company's fifty day moving average price is $153.66 and its 200-day moving average price is $153.86. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's payout ratio is presently 57.84%.

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.