Core Alternative Capital Sells 8,773 Shares of Johnson & Johnson (NYSE:JNJ)

Core Alternative Capital lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,963 shares of the company's stock after selling 8,773 shares during the quarter. Johnson & Johnson accounts for about 2.0% of Core Alternative Capital's investment portfolio, making the stock its 13th largest position. Core Alternative Capital's holdings in Johnson & Johnson were worth $8,120,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after acquiring an additional 6,332 shares during the period. Hudson Value Partners LLC grew its stake in shares of Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after purchasing an additional 1,022 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Johnson & Johnson by 22.0% in the 4th quarter. Proficio Capital Partners LLC now owns 19,951 shares of the company's stock worth $2,885,000 after buying an additional 3,594 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Johnson & Johnson in the 4th quarter valued at $1,339,878,000. Finally, Banco Santander S.A. grew its position in Johnson & Johnson by 31.0% in the fourth quarter. Banco Santander S.A. now owns 40,803 shares of the company's stock valued at $5,901,000 after acquiring an additional 9,664 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.3%

Shares of JNJ traded up $0.49 during trading hours on Tuesday, reaching $155.76. The stock had a trading volume of 6,432,336 shares, compared to its average volume of 8,057,313. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. 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 $374.77 billion, a P/E ratio of 17.33, a P/E/G ratio of 2.36 and a beta of 0.41. The firm has a 50-day moving average of $153.67 and a 200 day moving average of $154.24.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during 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%. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a $1.30 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.34%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's payout ratio is currently 57.84%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their target price for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Guggenheim reaffirmed a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Raymond James Financial reduced 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. Barclays decreased their target price 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. Finally, Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

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.