Brown Miller Wealth Management LLC cut its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 62.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,503 shares of the company's stock after selling 12,739 shares during the period. Brown Miller Wealth Management LLC's holdings in Johnson & Johnson were worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of the stock. Tallon Kerry Patrick purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at approximately $290,000. Capital & Planning LLC boosted its holdings in Johnson & Johnson by 13.6% during the 4th quarter. Capital & Planning LLC now owns 1,528 shares of the company's stock valued at $221,000 after acquiring an additional 183 shares during the period. Brighton Jones LLC boosted its stake in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $85,886,000. Finally, Howard Bailey Securities LLC increased its position in Johnson & Johnson by 9.0% during the fourth quarter. Howard Bailey Securities LLC now owns 1,406 shares of the company's stock worth $203,000 after buying an additional 116 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on JNJ shares. Raymond James Financial lowered their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley raised their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Barclays dropped their price objective 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 downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $170.88.
Check Out Our Latest Analysis on JNJ
Johnson & Johnson Stock Down 1.1%
Shares of JNJ stock traded down $1.61 during trading hours on Wednesday, hitting $150.77. 8,323,506 shares of the company's stock traded hands, compared to its average volume of 7,967,131. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The stock has a market cap of $362.76 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.31 and a beta of 0.42. The stock's fifty day simple moving average is $154.03 and its two-hundred day simple moving average is $153.69. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.
Johnson & Johnson Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.45%. Johnson & Johnson's dividend payout ratio is presently 57.84%.
About Johnson & Johnson
(
Free Report)
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.
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