Foundry Partners LLC lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,724 shares of the company's stock after selling 7,211 shares during the quarter. Johnson & Johnson makes up approximately 1.1% of Foundry Partners LLC's holdings, making the stock its 22nd biggest holding. Foundry Partners LLC's holdings in Johnson & Johnson were worth $21,182,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in shares of Johnson & Johnson during the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Johnson & Johnson during the fourth quarter worth $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Johnson & Johnson during the 4th quarter worth about $38,000. 69.55% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Raymond James Financial cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Barclays increased their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.87.
View Our Latest Report on JNJ
Johnson & Johnson Stock Performance
Shares of NYSE:JNJ traded up $0.73 on Monday, hitting $164.43. 3,456,993 shares of the company were exchanged, compared to its average volume of 8,123,126. 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 stock's 50 day moving average price is $154.29 and its 200 day moving average price is $155.12. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The firm has a market capitalization of $395.62 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. Johnson & Johnson's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.82 EPS. Sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current 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 paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.
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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