Johnson & Johnson (NYSE:JNJ) Shares Sold by Asio Capital LLC

Asio Capital LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 32.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,996 shares of the company's stock after selling 11,086 shares during the period. Asio Capital LLC's holdings in Johnson & Johnson were worth $3,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson during the fourth quarter valued at $29,000. Conquis Financial LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $38,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.2%

Shares of Johnson & Johnson stock opened at $156.90 on Monday. The stock has a 50 day moving average of $153.84 and a 200 day moving average of $153.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market capitalization of $377.52 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared 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 represents a $5.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JNJ shares. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Bank of America reduced their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Barclays reduced their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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