Cooke & Bieler LP Sells 5,916 Shares of Johnson & Johnson (NYSE:JNJ)

Cooke & Bieler LP decreased its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 805,746 shares of the company's stock after selling 5,916 shares during the period. Cooke & Bieler LP's holdings in Johnson & Johnson were worth $133,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Johnson & Johnson in the 4th quarter worth about $4,390,037,000. GAMMA Investing LLC raised its position in Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp grew its holdings in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after acquiring an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Down 1.1%

Shares of JNJ stock opened at $163.04 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The business's 50 day moving average is $154.10 and its two-hundred day moving average is $154.84. The company has a market cap of $392.28 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The business had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same period in the previous year, the firm earned $2.82 EPS. Johnson & Johnson's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.19%. Johnson & Johnson's dividend payout ratio (DPR) is currently 55.61%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday. Bank of America lifted their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday. Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, UBS Group reissued a "buy" rating and set a $190.00 price target (up previously from $180.00) on shares of Johnson & Johnson in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $174.11.

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.

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