GKV Capital Management Co. Inc. Sells 2,496 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• GKV Capital Management Co. Inc. reduced its stake in Johnson & Johnson by 71.3%, now holding 1,004 shares valued at $167,000 after selling 2,496 shares.
• Johnson & Johnson's shares opened at $172.79 and have a market cap of $416.14 billion, alongside a dividend yield of 3.0% with a quarterly dividend of $1.30 per share to be paid on September 9th.
• Recent analyst ratings show Johnson & Johnson with a consensus rating of "Moderate Buy" and a target price averaging $174.50, with various firms adjusting their price targets upward.

GKV Capital Management Co. Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 71.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,004 shares of the company's stock after selling 2,496 shares during the quarter. GKV Capital Management Co. Inc.'s holdings in Johnson & Johnson were worth $167,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in JNJ. Vanguard Group Inc. lifted its stake in Johnson & Johnson by 0.5% in the first quarter. Vanguard Group Inc. now owns 233,962,679 shares of the company's stock valued at $38,800,371,000 after acquiring an additional 1,170,120 shares during the last quarter. Northern Trust Corp lifted its stake in Johnson & Johnson by 12.3% in the fourth 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 last quarter. Bank of New York Mellon Corp lifted its stake 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 acquiring an additional 4,842,582 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Johnson & Johnson by 3.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,899,263 shares of the company's stock valued at $3,133,602,000 after acquiring an additional 712,181 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Johnson & Johnson by 2.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 18,282,410 shares of the company's stock valued at $3,031,955,000 after acquiring an additional 448,666 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of analyst reports. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Barclays boosted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. UBS Group boosted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded up $0.54 on Thursday, hitting $174.96. The company's stock had a trading volume of 8,240,900 shares, compared to its average volume of 9,039,433. The firm has a market cap of $421.37 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.20 and a beta of 0.41. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a fifty day moving average price of $160.42 and a 200-day moving average price of $158.01. Johnson & Johnson has a one year low of $140.68 and a one year high of $175.72.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 EPS. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson's dividend payout ratio is presently 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.