Jessup Wealth Management Inc Has $1.28 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Jessup Wealth Management Inc cut its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 45.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,716 shares of the company's stock after selling 6,382 shares during the period. Jessup Wealth Management Inc's holdings in Johnson & Johnson were worth $1,280,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JNJ. MRP Capital Investments LLC lifted its holdings in Johnson & Johnson by 4.1% in the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock valued at $237,000 after acquiring an additional 65 shares during the period. Syverson Strege & Co lifted its holdings in Johnson & Johnson by 4.9% in the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock valued at $202,000 after acquiring an additional 65 shares during the period. Sage Mountain Advisors LLC lifted its holdings in Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock valued at $2,106,000 after acquiring an additional 67 shares during the period. MBA Advisors LLC lifted its holdings in Johnson & Johnson by 1.2% in the first quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after acquiring an additional 68 shares during the period. Finally, Sovereign Financial Group Inc. lifted its holdings in Johnson & Johnson by 1.8% in the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after acquiring an additional 69 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 0.5%

Shares of JNJ traded down $0.82 during midday trading on Friday, reaching $156.87. 7,866,488 shares of the stock were exchanged, compared to its average volume of 8,077,942. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The firm has a 50 day simple moving average of $153.75 and a 200-day simple moving average of $154.49. 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 company has a market cap of $377.44 billion, a price-to-earnings ratio of 17.45, a P/E/G 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 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion for 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%. Research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current 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 dividend of $1.30 per share. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.31%. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

JNJ has been the subject of several research reports. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Morgan Stanley reaffirmed an "underperform" rating on shares of Johnson & Johnson in a research note on Thursday. Raymond James Financial cut their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, Bank of America cut their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.00.

Johnson & Johnson 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.