Burns J W & Co. Inc. NY Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Burns J W & Co. Inc. NY lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,427 shares of the company's stock after selling 2,615 shares during the quarter. Johnson & Johnson comprises approximately 1.2% of Burns J W & Co. Inc. NY's holdings, making the stock its 24th largest holding. Burns J W & Co. Inc. NY's holdings in Johnson & Johnson were worth $9,192,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson during the 4th quarter valued at about $29,000. Bay Harbor Wealth Management LLC bought a new position in Johnson & Johnson during the 4th quarter valued at about $32,000. Conquis Financial LLC bought a new position in Johnson & Johnson during the 4th quarter valued at about $33,000. Finally, Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research analyst reports. Raymond James dropped their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Barclays lowered their price target on shares of 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. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Stock Up 0.9%

NYSE:JNJ traded up $1.41 during midday trading on Friday, reaching $154.99. 15,529,047 shares of the stock traded hands, compared to its average volume of 7,948,740. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The stock has a market capitalization of $372.92 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The business has a 50-day moving average of $154.31 and a two-hundred day moving average of $153.65.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.36%. Johnson & Johnson's dividend payout ratio is presently 57.84%.

Johnson & Johnson 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.