Core Alternative Capital Trims Position in Johnson & Johnson (NYSE:JNJ)

Core Alternative Capital cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,963 shares of the company's stock after selling 8,773 shares during the period. Johnson & Johnson makes up approximately 2.0% of Core Alternative Capital's investment portfolio, making the stock its 13th biggest position. Core Alternative Capital's holdings in Johnson & Johnson were worth $8,120,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Johnson & Johnson in the 4th quarter worth about $29,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $36,000. Finally, Highline Wealth Partners LLC raised its holdings in shares of Johnson & Johnson by 51.8% during 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 in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.5%

Shares of NYSE:JNJ traded down $0.78 on Monday, reaching $155.23. 6,263,851 shares of the company traded hands, compared to its average volume of 8,052,572. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The business's 50-day simple moving average is $153.68 and its 200 day simple moving average is $154.17. The stock has a market capitalization of $373.49 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced 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 return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

Analyst Ratings Changes

A number of research analysts have recently commented on JNJ shares. Morgan Stanley increased their price objective on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Bank of America dropped their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Barclays dropped their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. 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, seven have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $170.88.

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.