Castle Rock Wealth Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 17.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,726 shares of the company's stock after selling 2,071 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Johnson & Johnson were worth $1,516,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of JNJ. Tallon Kerry Patrick acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $290,000. Capital & Planning LLC increased its stake in shares of Johnson & Johnson by 13.6% in the 4th quarter. Capital & Planning LLC now owns 1,528 shares of the company's stock valued at $221,000 after buying an additional 183 shares during the period. Brighton Jones LLC increased its stake in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at $85,886,000. Finally, Curbstone Financial Management Corp increased its stake in shares of Johnson & Johnson by 1.1% in the 4th quarter. Curbstone Financial Management Corp now owns 26,732 shares of the company's stock valued at $3,866,000 after buying an additional 280 shares during the period. Institutional investors own 69.55% of the company's stock.
Analyst Ratings Changes
Several research firms have recently issued reports on JNJ. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Royal Bank of Canada restated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Morgan Stanley lifted their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Finally, Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.
Check Out Our Latest Stock Analysis on Johnson & Johnson
Johnson & Johnson Trading Down 0.4%
NYSE JNJ traded down $0.66 during mid-day trading on Wednesday, reaching $153.76. 2,522,344 shares of the stock were exchanged, compared to its average volume of 7,926,596. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The stock has a 50 day simple moving average of $154.01 and a 200-day simple moving average of $153.68. The stock has a market cap of $369.96 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly 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 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current 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 $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's payout ratio is 57.84%.
Johnson & Johnson Company Profile
(
Free Report)
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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