Cullen Investment Group LTD. reduced its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 51.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,945 shares of the company's stock after selling 35,674 shares during the period. Cullen Investment Group LTD.'s holdings in Johnson & Johnson were worth $5,630,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth about $29,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson in the fourth quarter worth about $32,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $33,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $36,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.
Johnson & Johnson Stock Up 0.9%
NYSE JNJ traded up $1.41 during trading on Friday, hitting $154.99. The company's stock had a trading volume of 15,529,047 shares, compared to its average volume of 7,975,488. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The company has a market cap of $372.92 billion, a PE ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. The business's 50 day simple moving average is $154.43 and its 200-day simple moving average is $153.63. 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 issued its quarterly 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 business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.
Johnson & Johnson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued 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 is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.36%. Johnson & Johnson's payout ratio is 57.84%.
Analysts Set New Price Targets
Several brokerages have commented on JNJ. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Royal Bank of Canada reiterated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.
View Our Latest Stock Report on Johnson & Johnson
Johnson & Johnson Company Profile
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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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