Johnson & Johnson (NYSE:JNJ) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,698 shares of the company's stock after selling 5,914 shares during the period. Bridges Investment Management Inc.'s holdings in Johnson & Johnson were worth $12,388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Mraz Amerine & Associates Inc. grew its position in shares of Johnson & Johnson by 0.5% in the first quarter. Mraz Amerine & Associates Inc. now owns 24,242 shares of the company's stock valued at $3,969,000 after purchasing an additional 124 shares during the period. Topsail Wealth Management LLC grew its position in Johnson & Johnson by 5.3% during the first quarter. Topsail Wealth Management LLC now owns 2,684 shares of the company's stock valued at $445,000 after acquiring an additional 134 shares during the period. Moloney Securities Asset Management LLC grew its position in Johnson & Johnson by 5.6% during the first quarter. Moloney Securities Asset Management LLC now owns 35,569 shares of the company's stock valued at $5,899,000 after acquiring an additional 1,872 shares during the period. Banque Pictet & Cie SA grew its position in Johnson & Johnson by 15.0% during the first quarter. Banque Pictet & Cie SA now owns 205,333 shares of the company's stock valued at $34,052,000 after acquiring an additional 26,859 shares during the period. Finally, Slagle Financial LLC grew its position in Johnson & Johnson by 0.6% during the first quarter. Slagle Financial LLC now owns 14,114 shares of the company's stock valued at $2,341,000 after acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Raymond James Financial lowered their price target 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. Barclays lowered their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wall Street Zen raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 5th. Eleven equities 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $171.00.

Johnson & Johnson Stock Down 0.5%

JNJ traded down $0.82 on Friday, reaching $156.87. The company's stock had a trading volume of 7,866,488 shares, compared to its average volume of 8,066,975. The stock has a market cap of $377.44 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The business's 50 day moving average is $153.75 and its 200 day moving average is $154.43.

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

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.31%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is presently 57.84%.

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.