Legacy Advisors LLC Sells 2,991 Shares of Johnson & Johnson (NYSE:JNJ)

Legacy Advisors LLC lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,198 shares of the company's stock after selling 2,991 shares during the quarter. Johnson & Johnson comprises approximately 0.9% of Legacy Advisors LLC's holdings, making the stock its 20th largest holding. Legacy Advisors LLC's holdings in Johnson & Johnson were worth $8,656,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Johnson & Johnson by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Johnson & Johnson by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock valued at $8,321,881,000 after buying an additional 1,561,036 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Johnson & Johnson by 12.3% in the 4th 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. Norges Bank purchased a new position in Johnson & Johnson in the fourth quarter worth about $4,390,037,000. Finally, Wellington Management Group LLP increased its stake in Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after acquiring an additional 431,205 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Raymond James Financial reduced their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley lifted their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a research 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, Leerink Partnrs lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $152.27 on Wednesday. The company has a market cap of $366.36 billion, a PE ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.42. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week 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 business has a 50-day simple moving average of $153.99 and a two-hundred day simple moving average of $153.68.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The company had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. As a group, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.42%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.

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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