Parsons Capital Management Inc. RI Has $16.08 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Parsons Capital Management Inc. RI cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,961 shares of the company's stock after selling 2,701 shares during the quarter. Johnson & Johnson makes up 0.9% of Parsons Capital Management Inc. RI's portfolio, making the stock its 24th biggest holding. Parsons Capital Management Inc. RI's holdings in Johnson & Johnson were worth $16,080,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of JNJ. Manitou Investment Management Ltd. grew its stake in Johnson & Johnson by 76.5% in the 1st quarter. Manitou Investment Management Ltd. now owns 969 shares of the company's stock valued at $161,000 after buying an additional 420 shares during the last quarter. SJS Investment Consulting Inc. grew its position in Johnson & Johnson by 2.5% during the first quarter. SJS Investment Consulting Inc. now owns 3,094 shares of the company's stock worth $513,000 after buying an additional 76 shares in the last quarter. Sonora Investment Management Group LLC increased its stake in Johnson & Johnson by 2.5% during the first quarter. Sonora Investment Management Group LLC now owns 107,836 shares of the company's stock valued at $17,884,000 after acquiring an additional 2,666 shares during the period. Crescent Sterling Ltd. raised its holdings in Johnson & Johnson by 1.7% in the 1st quarter. Crescent Sterling Ltd. now owns 23,635 shares of the company's stock valued at $3,920,000 after acquiring an additional 396 shares in the last quarter. Finally, Accurate Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 5.1% during the 1st quarter. Accurate Wealth Management LLC now owns 24,387 shares of the company's stock worth $3,699,000 after purchasing an additional 1,173 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.2%

Johnson & Johnson stock traded up $0.24 during mid-day trading on Friday, hitting $156.90. The stock had a trading volume of 6,587,488 shares, compared to its average volume of 7,947,702. The stock has a market capitalization of $377.52 billion, a PE ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The stock has a 50-day simple moving average of $153.84 and a two-hundred day simple moving average of $153.72.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend was Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Analysts Set New Price Targets

A number of research analysts recently commented on JNJ shares. Raymond James cut their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays dropped their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note 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 target for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Leerink Partners cut Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Eleven investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $170.88.

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.