Griffin Asset Management Inc. trimmed its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,449 shares of the company's stock after selling 1,680 shares during the period. Johnson & Johnson accounts for 1.7% of Griffin Asset Management Inc.'s investment portfolio, making the stock its 13th biggest position. Griffin Asset Management Inc.'s holdings in Johnson & Johnson were worth $13,508,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV bought a new position in Johnson & Johnson in the 1st quarter valued at $6,351,000. ShankerValleau Wealth Advisors Inc. bought a new position in Johnson & Johnson in the 1st quarter valued at $202,000. BigSur Wealth Management LLC boosted its holdings in Johnson & Johnson by 0.9% in the 1st quarter. BigSur Wealth Management LLC now owns 8,418 shares of the company's stock valued at $1,396,000 after purchasing an additional 79 shares during the period. New England Research & Management Inc. boosted its holdings in Johnson & Johnson by 7.6% in the 1st quarter. New England Research & Management Inc. now owns 29,748 shares of the company's stock valued at $4,933,000 after purchasing an additional 2,097 shares during the period. Finally, Pullen Investment Management LLC raised its position in shares of Johnson & Johnson by 6.4% during the 1st quarter. Pullen Investment Management LLC now owns 6,815 shares of the company's stock valued at $1,130,000 after buying an additional 408 shares in the last quarter. 69.55% of the stock is owned by institutional investors.
Johnson & Johnson Trading Up 0.2%
NYSE:JNJ traded up $0.24 during mid-day trading on Friday, reaching $156.90. 6,587,488 shares of the company's stock traded hands, compared to its average volume of 7,963,253. The company has a 50 day moving average price of $153.84 and a 200-day moving average price of $153.71. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. 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. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.
Johnson & Johnson Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.31%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's payout ratio is presently 57.84%.
Analyst Ratings Changes
Several research firms have recently weighed in on JNJ. Raymond James lowered their price objective 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. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Finally, Barclays lowered their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Eleven equities research 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $170.88.
Get Our Latest Stock Analysis on Johnson & Johnson
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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