JGP Wealth Management LLC Sells 26,784 Shares of Johnson & Johnson (NYSE:JNJ)

JGP Wealth Management LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 39.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,446 shares of the company's stock after selling 26,784 shares during the quarter. JGP Wealth Management LLC's holdings in Johnson & Johnson were worth $6,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Bond & Devick Financial Network Inc. lifted its holdings in shares of Johnson & Johnson by 1.8% during the 1st quarter. Bond & Devick Financial Network Inc. now owns 6,497 shares of the company's stock valued at $1,077,000 after buying an additional 115 shares during the last quarter. Quantum Financial Advisors LLC lifted its holdings in shares of Johnson & Johnson by 153.0% during the 1st quarter. Quantum Financial Advisors LLC now owns 5,601 shares of the company's stock valued at $929,000 after buying an additional 3,387 shares during the last quarter. Founders Capital Management lifted its holdings in shares of Johnson & Johnson by 0.3% during the 1st quarter. Founders Capital Management now owns 34,950 shares of the company's stock valued at $5,796,000 after buying an additional 101 shares during the last quarter. Aletheian Wealth Advisors LLC lifted its holdings in shares of Johnson & Johnson by 63.2% during the 1st quarter. Aletheian Wealth Advisors LLC now owns 2,511 shares of the company's stock valued at $416,000 after buying an additional 972 shares during the last quarter. Finally, Bowman & Co S.C. lifted its holdings in shares of Johnson & Johnson by 17.9% during the 1st quarter. Bowman & Co S.C. now owns 11,135 shares of the company's stock valued at $1,846,000 after buying an additional 1,689 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. The Goldman Sachs Group raised 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 note on Wednesday, April 9th. 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 note on Tuesday, May 13th. Finally, Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $0.16 during trading on Monday, hitting $155.37. The company's stock had a trading volume of 6,665,172 shares, compared to its average volume of 7,943,546. The firm has a market cap of $373.83 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm has a 50 day moving average price of $154.31 and a 200 day moving average price of $153.66.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.35%. Johnson & Johnson's payout ratio is currently 57.84%.

About Johnson & Johnson

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.