Perigon Wealth Management LLC Has $14.28 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Perigon Wealth Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,113 shares of the company's stock after selling 2,943 shares during the period. Perigon Wealth Management LLC's holdings in Johnson & Johnson were worth $14,281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Omnia Family Wealth LLC grew its stake in Johnson & Johnson by 26.3% during the 1st quarter. Omnia Family Wealth LLC now owns 3,698 shares of the company's stock worth $613,000 after buying an additional 769 shares during the last quarter. New World Advisors LLC grew its stake in Johnson & Johnson by 10.9% during the 1st quarter. New World Advisors LLC now owns 2,194 shares of the company's stock worth $364,000 after buying an additional 216 shares during the last quarter. Inman Jager Wealth Management LLC grew its stake in Johnson & Johnson by 30.7% during the 1st quarter. Inman Jager Wealth Management LLC now owns 7,767 shares of the company's stock worth $1,288,000 after buying an additional 1,823 shares during the last quarter. TigerOak Management L.L.C. grew its stake in shares of Johnson & Johnson by 1.1% in the first quarter. TigerOak Management L.L.C. now owns 12,163 shares of the company's stock worth $2,017,000 after purchasing an additional 128 shares in the last quarter. Finally, Cvfg LLC bought a new position in shares of Johnson & Johnson in the first quarter worth $346,000. 69.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on JNJ shares. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. 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. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Morgan Stanley upped their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Finally, Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Trading Up 2.0%

Shares of NYSE:JNJ traded up $3.06 during midday trading on Tuesday, hitting $155.81. The company had a trading volume of 10,894,899 shares, compared to its average volume of 8,045,918. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The firm has a fifty day simple moving average of $153.63 and a 200 day simple moving average of $153.87. The stock has a market cap of $374.89 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.31 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm 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 33.46% and a net margin of 24.42%. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Johnson & Johnson Profile

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.