Johnson & Johnson (NYSE:JNJ) Shares Sold by Davidson Investment Advisors

Davidson Investment Advisors lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,446 shares of the company's stock after selling 3,865 shares during the quarter. Davidson Investment Advisors' holdings in Johnson & Johnson were worth $19,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Johnson & Johnson in the fourth quarter valued at $4,390,037,000. Raymond James Financial Inc. purchased a new position in Johnson & Johnson in the fourth quarter valued at $1,339,878,000. GAMMA Investing LLC increased its holdings in Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after buying an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after buying an additional 4,559,147 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

NYSE:JNJ traded up $0.28 during mid-day trading on Wednesday, reaching $156.07. The stock had a trading volume of 6,140,694 shares, compared to its average volume of 8,049,705. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The firm has a market capitalization of $375.52 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.35 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The business has a 50 day simple moving average of $153.67 and a 200 day simple moving average of $154.25.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. On average, analysts expect 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 was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Analysts Set New Price Targets

JNJ has been the topic of several recent analyst reports. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Wall Street Zen raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Morgan Stanley raised their price objective 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, Bank of America dropped their price objective on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

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.