First Fiduciary Investment Counsel Inc. Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

First Fiduciary Investment Counsel Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,099 shares of the company's stock after selling 3,416 shares during the quarter. Johnson & Johnson comprises approximately 3.3% of First Fiduciary Investment Counsel Inc.'s portfolio, making the stock its 7th biggest holding. First Fiduciary Investment Counsel Inc.'s holdings in Johnson & Johnson were worth $15,274,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of JNJ. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson during the 4th quarter valued at about $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $36,000. Finally, Highline Wealth Partners LLC boosted its position 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 valued at $42,000 after acquiring an additional 86 shares during the period. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.2%

Shares of NYSE:JNJ traded up $0.34 during midday trading on Friday, hitting $155.90. 3,482,521 shares of the stock traded hands, compared to its average volume of 8,047,072. 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 $153.65 and its two-hundred day moving average is $153.96. The stock has a market capitalization of $375.11 billion, a PE ratio of 17.34, a P/E/G ratio of 2.35 and a beta of 0.41. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. As a group, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.34%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is 57.84%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Raymond James Financial lowered their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Barclays dropped their price objective on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Bank of America dropped their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

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.