Johnson & Johnson (NYSE:JNJ) Shares Sold by Stonebridge Capital Management Inc.

Key Points

• Stonebridge Capital Management Inc. reduced its stake in Johnson & Johnson by 5.3%, now holding 38,699 shares valued at approximately $6.42 million.
• Analysts have given Johnson & Johnson an average rating of "Moderate Buy" with a price target of $174.50, reflecting mixed sentiment among brokerage firms.
• Johnson & Johnson declared a quarterly dividend of $1.30 per share, representing an annualized yield of 3.0%, with the payment scheduled for September 9th.

Stonebridge Capital Management Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,699 shares of the company's stock after selling 2,185 shares during the period. Johnson & Johnson makes up approximately 2.8% of Stonebridge Capital Management Inc.'s investment portfolio, making the stock its 10th biggest position. Stonebridge Capital Management Inc.'s holdings in Johnson & Johnson were worth $6,418,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JNJ. Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson during the first quarter worth $49,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the first quarter worth $52,000. Capital A Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $50,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $58,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JNJ. Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. UBS Group boosted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wall Street Zen cut shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Bank of America boosted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $174.50.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $173.40 on Friday. The firm's 50-day moving average price is $159.26 and its 200-day moving average price is $157.44. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $173.96. The firm has a market capitalization of $417.61 billion, a P/E ratio of 18.55, a P/E/G ratio of 2.18 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.0%. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.