Freestone Capital Holdings LLC Sells 3,858 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Freestone Capital Holdings LLC reduced its holdings in Johnson & Johnson by 6.4%, selling 3,858 shares in the first quarter, leaving them with a total of 55,974 shares valued at approximately $9.28 million.
• Wall Street analysts have mixed views on Johnson & Johnson, with ratings varying from "strong buy" to "hold," and an average price target of $174.50.
• Johnson & Johnson plans to pay a quarterly dividend of $1.30 per share on September 9th, offering a 2.9% yield and a payout ratio of 55.61% as of now.

Freestone Capital Holdings LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,974 shares of the company's stock after selling 3,858 shares during the quarter. Freestone Capital Holdings LLC's holdings in Johnson & Johnson were worth $9,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elios Financial Group Inc. lifted its holdings in Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company's stock worth $746,000 after purchasing an additional 66 shares during the last quarter. Atlantic Family Wealth LLC lifted its holdings in Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after purchasing an additional 67 shares during the last quarter. MBA Advisors LLC lifted its holdings in Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock worth $921,000 after purchasing an additional 68 shares during the last quarter. Sovereign Financial Group Inc. lifted its holdings in Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock worth $651,000 after purchasing an additional 69 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc lifted its holdings in Johnson & Johnson by 1.5% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock worth $767,000 after purchasing an additional 69 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Bank of America lifted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $176.76 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $177.27. The stock has a market capitalization of $425.70 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.41. The stock has a fifty day moving average of $161.28 and a 200-day moving average of $158.39.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 EPS. Johnson & Johnson's revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.9%. Johnson & Johnson's payout ratio is currently 55.61%.

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.

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