Johnson & Johnson (NYSE:JNJ) Shares Sold by Harmony Asset Management LLC

Harmony Asset Management LLC cut its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 34.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,854 shares of the company's stock after selling 5,206 shares during the period. Harmony Asset Management LLC's holdings in Johnson & Johnson were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of JNJ. Norges Bank purchased a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,390,037,000. GAMMA Investing LLC increased its holdings in shares of Johnson & Johnson by 24,450.4% in the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock valued at $1,196,596,000 after acquiring an additional 7,185,977 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Johnson & Johnson by 26.4% in the 1st 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 period. Janus Henderson Group PLC increased its holdings in shares of Johnson & Johnson by 134.5% in the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after acquiring an additional 4,559,147 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Johnson & Johnson by 12.3% in the 4th 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 period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of a number of analyst reports. Morgan Stanley reiterated an "underperform" rating on shares of Johnson & Johnson in a report on Thursday. Barclays cut their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Wall Street Zen upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Eleven investment 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's stock. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and a consensus price target of $171.00.

Johnson & Johnson Stock Performance

JNJ traded down $0.91 on Monday, reaching $155.99. 2,121,687 shares of the stock were exchanged, compared to its average volume of 8,965,982. The company's 50-day moving average price is $153.75 and its 200 day moving average price is $154.55. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm has a market capitalization of $375.32 billion, a PE ratio of 17.35, a PEG ratio of 2.14 and a beta of 0.41.

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

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is 57.84%.

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.