Jmac Enterprises LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Jmac Enterprises LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 76.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,090 shares of the company's stock after selling 10,159 shares during the quarter. Jmac Enterprises LLC's holdings in Johnson & Johnson were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of JNJ. Norges Bank bought a new stake in Johnson & Johnson during the fourth quarter worth about $4,390,037,000. Raymond James Financial Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth about $1,339,878,000. GAMMA Investing LLC boosted its stake in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after acquiring an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 16th. Raymond James Financial decreased their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Eleven equities research 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Stock Up 1.0%

JNJ opened at $151.33 on Tuesday. 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 firm has a 50 day moving average price of $154.01 and a 200-day moving average price of $153.69. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock has a market capitalization of $364.11 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.27 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.