Fifth Third Bancorp Sells 48,877 Shares of Johnson & Johnson (NYSE:JNJ)

Fifth Third Bancorp decreased its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,078,900 shares of the company's stock after selling 48,877 shares during the period. Fifth Third Bancorp's holdings in Johnson & Johnson were worth $178,925,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in JNJ. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson in the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new position in Johnson & Johnson in the fourth quarter valued at $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter valued at about $38,000. Institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $1.35 during trading hours on Thursday, reaching $156.61. 7,065,256 shares of the stock were exchanged, compared to its average volume of 7,948,711. The stock has a 50 day moving average of $153.56 and a two-hundred day moving average of $153.70. The company has a market cap of $376.82 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.32%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

Johnson & Johnson Company 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.