Kathleen S. Wright Associates Inc. Sells 1,944 Shares of Johnson & Johnson (NYSE:JNJ)

Kathleen S. Wright Associates Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,273 shares of the company's stock after selling 1,944 shares during the quarter. Kathleen S. Wright Associates Inc.'s holdings in Johnson & Johnson were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after buying an additional 1,561,036 shares during the last quarter. Northern Trust Corp lifted its holdings in Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after buying an additional 3,363,235 shares in the last quarter. Norges Bank bought a new stake in shares of Johnson & Johnson in the 4th quarter worth about $4,390,037,000. Wellington Management Group LLP grew its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock valued at $3,522,447,000 after buying an additional 431,205 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Friday. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada raised their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $172.87.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $1.19 during midday trading on Tuesday, hitting $165.55. 1,552,092 shares of the company traded hands, compared to its average volume of 8,117,188. The stock has a market cap of $398.32 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 2.08 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The firm's fifty day moving average price is $154.29 and its 200-day moving average price is $155.12. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 EPS. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current 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. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.14%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

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.

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