Johnson & Johnson (NYSE:JNJ) Shares Sold by Jensen Investment Management Inc.

Key Points

• Jensen Investment Management Inc. significantly reduced its stake in Johnson & Johnson by 59.9% during the first quarter, now holding 614,750 shares worth approximately $101.95 million.
• Several analysts have recently adjusted their ratings on Johnson & Johnson, with a consensus rating of "Moderate Buy" and a target price of $174.50.
• The company reported a quarterly earnings per share of $2.77, exceeding estimates, and announced a $1.30 dividend to be paid to shareholders on September 9th, representing a 3.0% yield.

Jensen Investment Management Inc. lessened its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 59.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,750 shares of the company's stock after selling 920,015 shares during the period. Johnson & Johnson comprises 1.1% of Jensen Investment Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Jensen Investment Management Inc.'s holdings in Johnson & Johnson were worth $101,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of JNJ. Bernard Wealth Management Corp. acquired a new position in Johnson & Johnson during the fourth quarter worth approximately $36,000. Highline Wealth Partners LLC raised its position in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson during the 1st quarter worth $49,000. Capital A Wealth Management LLC purchased a new position in Johnson & Johnson during the 4th quarter worth $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Johnson & Johnson in the first quarter valued at $52,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

JNJ stock traded up $0.82 during midday trading on Thursday, hitting $171.41. 9,314,579 shares of the stock were exchanged, compared to its average volume of 9,367,092. The stock's 50-day moving average price is $158.89 and its 200-day moving average price is $157.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market cap of $412.81 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 2.17 and a beta of 0.41. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $172.18.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued 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 dividend yield of 3.0%. Johnson & Johnson's payout ratio is 55.61%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research reports. UBS Group raised their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Raymond James Financial cut their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their price target for the stock 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average target price of $174.50.

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.