Kennondale Capital Management LLC Trims Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Kennondale Capital Management LLC decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 81.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 7,120 shares of the company's stock after selling 31,173 shares during the period. Kennondale Capital Management LLC's holdings in Johnson & Johnson were worth $1,181,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Syverson Strege & Co raised its position in shares of Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock worth $202,000 after purchasing an additional 65 shares during the period. MBA Advisors LLC boosted its stake in shares of Johnson & Johnson by 1.2% during the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock worth $921,000 after acquiring an additional 68 shares in the last quarter. Sovereign Financial Group Inc. lifted its holdings in shares of Johnson & Johnson by 1.8% in the first quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after purchasing an additional 69 shares in the last quarter. Nabity Jensen Investment Management Inc lifted its holdings in shares of Johnson & Johnson by 1.5% in the first quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after purchasing an additional 69 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its holdings in shares of Johnson & Johnson by 1.1% during the first quarter. Almanack Investment Partners LLC. now owns 6,633 shares of the company's stock worth $1,100,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JNJ shares. Bank of America lifted their price objective on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Leerink Partners downgraded shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Barclays increased their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of "Moderate Buy" and an average target price of $172.87.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded up $3.54 during midday trading on Tuesday, reaching $167.90. 9,277,637 shares of the company were exchanged, compared to its average volume of 8,151,378. The company has a market capitalization of $403.99 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.09 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. 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 50-day simple moving average is $154.29 and its 200-day simple moving average is $155.12.

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 return on equity of 33.07% and a net margin of 25.00%. The business had revenue of $23.74 billion during the quarter, compared to analyst estimates of $22.85 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The company's revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued 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 3.10%. Johnson & Johnson's payout ratio 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.