Means Investment CO. Inc. Sells 2,486 Shares of Johnson & Johnson (NYSE:JNJ)

Means Investment CO. Inc. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,956 shares of the company's stock after selling 2,486 shares during the period. Means Investment CO. Inc.'s holdings in Johnson & Johnson were worth $3,973,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Highline Wealth Partners LLC increased its holdings in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after buying an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on JNJ. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Barclays reduced their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Bank of America reduced their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Leerink Partnrs downgraded shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Eleven research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Trading Down 0.6%

Shares of Johnson & Johnson stock opened at $149.81 on Friday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The firm has a market cap of $360.44 billion, a PE ratio of 16.66, a PEG ratio of 2.28 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The company has a 50 day simple moving average of $154.07 and a two-hundred day simple moving average of $153.63.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.47%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is presently 57.84%.

Johnson & Johnson Company 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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