Crestwood Advisors Group LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Crestwood Advisors Group LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 378,058 shares of the company's stock after selling 6,367 shares during the quarter. Johnson & Johnson accounts for 1.2% of Crestwood Advisors Group LLC's holdings, making the stock its 24th biggest holding. Crestwood Advisors Group LLC's holdings in Johnson & Johnson were worth $62,697,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of JNJ. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson in the fourth quarter worth about $29,000. Conquis Financial LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth about $33,000. Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson in the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on JNJ shares. Morgan Stanley raised their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Bank of America boosted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Royal Bank Of Canada boosted their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. UBS Group reissued a "buy" rating and issued a $190.00 price target (up from $180.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Leerink Partnrs downgraded 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, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average price target of $172.87.

Johnson & Johnson Trading Up 2.2%

JNJ traded up $3.54 during mid-day trading on Tuesday, hitting $167.90. 9,277,637 shares of the stock were exchanged, compared to its average volume of 8,146,142. The firm's fifty day moving average is $154.29 and its two-hundred day moving average is $155.12. Johnson & Johnson has a 1-year low of $140.68 and a 1-year 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 company has a market cap of $403.99 billion, a PE ratio of 17.96, a PEG ratio of 2.08 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.10%. Johnson & Johnson's dividend payout ratio is currently 55.61%.

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.