Johnson & Johnson (NYSE:JNJ) Shares Sold by Praxis Investment Management Inc.

Praxis Investment Management Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,331 shares of the company's stock after selling 2,510 shares during the quarter. Johnson & Johnson accounts for 0.7% of Praxis Investment Management Inc.'s holdings, making the stock its 21st biggest position. Praxis Investment Management Inc.'s holdings in Johnson & Johnson were worth $10,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. Norges Bank purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $4,390,037,000. Raymond James Financial Inc. acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $1,339,878,000. GAMMA Investing LLC increased its stake in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after acquiring an additional 7,185,977 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $149.81 on Friday. 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 firm has a market cap of $360.44 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.27 and a beta of 0.42. The company has a 50 day moving average of $154.07 and a 200-day moving average of $153.65. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced 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. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is 57.84%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 5th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Morgan Stanley upped their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given 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 $170.88.

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.

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