Coho Partners Ltd. Sells 128,602 Shares of Johnson & Johnson (NYSE:JNJ)

Coho Partners Ltd. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 26.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362,647 shares of the company's stock after selling 128,602 shares during the quarter. Johnson & Johnson makes up about 3.6% of Coho Partners Ltd.'s investment portfolio, making the stock its 10th biggest position. Coho Partners Ltd.'s holdings in Johnson & Johnson were worth $60,141,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at approximately $38,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Up 0.1%

JNJ traded up $0.14 during mid-day trading on Wednesday, hitting $152.33. The stock had a trading volume of 7,149,773 shares, compared to its average volume of 8,004,092. The stock's fifty day simple moving average is $153.95 and its 200-day simple moving average is $153.67. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The firm has a market capitalization of $366.52 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. As a group, research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal 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 given a dividend of $1.30 per share. This is an increase 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 annualized dividend and a dividend yield of 3.41%. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. Bank of America decreased their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley increased their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Barclays decreased their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Raymond James Financial cut their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $170.88.

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.