MainStreet Investment Advisors LLC Cuts Position in Johnson & Johnson (NYSE:JNJ)

MainStreet Investment Advisors LLC trimmed its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,703 shares of the company's stock after selling 2,832 shares during the quarter. Johnson & Johnson comprises 1.8% of MainStreet Investment Advisors LLC's investment portfolio, making the stock its 13th biggest position. MainStreet Investment Advisors LLC's holdings in Johnson & Johnson were worth $12,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after acquiring an additional 6,332 shares during the period. Hudson Value Partners LLC raised its stake in shares of Johnson & Johnson by 2.5% in the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock valued at $5,648,000 after acquiring an additional 1,022 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Johnson & Johnson by 22.0% in the 4th quarter. Proficio Capital Partners LLC now owns 19,951 shares of the company's stock valued at $2,885,000 after acquiring an additional 3,594 shares during the period. Jupiter Asset Management Ltd. increased its stake in Johnson & Johnson by 10,455.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 144,402 shares of the company's stock worth $20,883,000 after buying an additional 143,034 shares during the period. Finally, Essential Planning LLC. purchased a new stake in Johnson & Johnson during the 4th quarter worth approximately $3,252,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Raymond James Financial dropped their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average target price of $171.00.

Johnson & Johnson Stock Performance

NYSE:JNJ traded down $0.82 during trading hours on Friday, reaching $156.87. 7,866,488 shares of the company's stock were exchanged, compared to its average volume of 8,066,975. The firm has a market capitalization of $377.44 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 2.15 and a beta of 0.41. The company has a 50-day moving average of $153.73 and a 200 day moving average of $154.35. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

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. The firm had revenue of $21.89 billion during the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is 57.84%.

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.