Louisbourg Investments Inc. Sells 7,385 Shares of Johnson & Johnson (NYSE:JNJ)

Louisbourg Investments Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 15.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,317 shares of the company's stock after selling 7,385 shares during the quarter. Johnson & Johnson accounts for approximately 1.7% of Louisbourg Investments Inc.'s investment portfolio, making the stock its 14th biggest position. Louisbourg Investments Inc.'s holdings in Johnson & Johnson were worth $6,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Norges Bank bought a new position in Johnson & Johnson in the fourth quarter valued at about $4,390,037,000. Raymond James Financial Inc. acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $1,339,878,000. GAMMA Investing LLC increased its position in Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Johnson & Johnson by 134.5% in the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in 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 purchasing an additional 3,363,235 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on JNJ shares. Raymond James Financial lowered their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Royal Bank Of Canada restated an "outperform" rating and set a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, June 5th. Finally, Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Trading Down 1.1%

Shares of NYSE:JNJ traded down $1.61 during trading on Wednesday, reaching $150.77. The stock had a trading volume of 8,323,506 shares, compared to its average volume of 7,959,915. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm's fifty day moving average is $154.03 and its 200 day moving average is $153.69. The stock has a market cap of $362.76 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 2.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share 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 firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's payout ratio is presently 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.