Skandinaviska Enskilda Banken AB publ Sells 15,943 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Johnson & Johnson by 2.4%, now holding 657,065 shares worth approximately $108.97 million.
• Several analysts upgraded or downgraded Johnson & Johnson's stock, with the consensus target price set at $174.50 and an average rating of "Moderate Buy."
• The company reported a quarterly earnings per share (EPS) of $2.77, exceeding analysts' expectations, along with a revenue of $23.74 billion for the quarter, up 5.8% year-over-year.

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 657,065 shares of the company's stock after selling 15,943 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Johnson & Johnson were worth $108,968,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of JNJ. WealthTrak Capital Management LLC bought a new position in Johnson & Johnson during the 4th quarter worth approximately $26,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $36,000. Highline Wealth Partners LLC grew its position in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the last quarter. Finally, von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $49,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

JNJ traded up $1.93 during midday trading on Tuesday, reaching $168.15. The company had a trading volume of 3,590,674 shares, compared to its average volume of 9,055,068. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average of $156.36 and a two-hundred day moving average of $156.14. The company has a market cap of $404.59 billion, a P/E ratio of 17.99, a P/E/G ratio of 2.14 and a beta of 0.41. 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 released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter last year, the business posted $2.82 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analysts Set New Price Targets

Several research firms recently weighed in on JNJ. Raymond James Financial dropped their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Morgan Stanley boosted their target price on Johnson & Johnson from $171.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Barclays boosted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Royal Bank Of Canada boosted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

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.