Asset Advisors Investment Management LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 39.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,768 shares of the company's stock after selling 41,410 shares during the quarter. Johnson & Johnson makes up approximately 1.1% of Asset Advisors Investment Management LLC's investment portfolio, making the stock its 29th largest position. Asset Advisors Investment Management LLC's holdings in Johnson & Johnson were worth $10,741,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $29,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $38,000. Institutional investors own 69.55% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on JNJ shares. UBS Group reaffirmed a "buy" rating and issued a $190.00 price objective (up from $180.00) on shares of Johnson & Johnson in a research note on Thursday. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Bank of America lifted their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $174.11.
View Our Latest Report on Johnson & Johnson
Johnson & Johnson Trading Up 0.4%
NYSE JNJ traded up $0.67 on Friday, hitting $163.65. The company's stock had a trading volume of 9,764,459 shares, compared to its average volume of 8,138,164. The firm has a market cap of $393.75 billion, a P/E ratio of 17.50, a PEG ratio of 2.18 and a beta of 0.41. 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 company's 50-day simple moving average is $154.10 and its 200 day simple moving average is $154.84. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter last year, the business posted $2.82 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.
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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