Johnson & Johnson (NYSE:JNJ) Position Lessened by Capital Planning Advisors LLC

Key Points

• Capital Planning Advisors LLC reduced its position in Johnson & Johnson (NYSE: JNJ) by 10.3%, resulting in ownership of 13,824 shares valued at approximately $2.29 million.
• Johnson & Johnson reported earnings per share (EPS) of $2.77 for the last quarter, exceeding estimates by $0.09, with revenues reaching $23.74 billion.
• The company also declared a quarterly dividend of $1.30 per share, which results in an annualized dividend yield of 3.0%.

Capital Planning Advisors LLC reduced its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,824 shares of the company's stock after selling 1,586 shares during the period. Capital Planning Advisors LLC's holdings in Johnson & Johnson were worth $2,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Highline Wealth Partners LLC lifted its stake in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after acquiring an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson in the first quarter worth about $49,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the first quarter worth about $52,000. Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth about $50,000. Finally, Pandora Wealth Inc. acquired a new stake in Johnson & Johnson during the first quarter valued at approximately $65,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on JNJ. Morgan Stanley upped their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada upped their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. UBS Group upped their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Bank of America upped their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $1.07 on Wednesday, reaching $173.85. 610,483 shares of the company traded hands, compared to its average volume of 9,009,323. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $174.76. The company's 50 day moving average is $160.00 and its 200-day moving average is $157.90. The stock has a market capitalization of $418.69 billion, a PE ratio of 18.63, a P/E/G ratio of 2.21 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the prior year, the firm earned $2.82 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.