Mitchell Sinkler & Starr PA Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Key Points

• Mitchell Sinkler & Starr PA reduced its holdings in Johnson & Johnson by 5.6%, now owning 64,819 shares worth approximately $10.75 million.
• Johnson & Johnson reported $2.77 earnings per share for the last quarter, exceeding analyst expectations and showing a 5.8% revenue increase year-over-year.
• The company has announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 3.09%.

Mitchell Sinkler & Starr PA reduced its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,819 shares of the company's stock after selling 3,821 shares during the quarter. Johnson & Johnson accounts for 3.0% of Mitchell Sinkler & Starr PA's portfolio, making the stock its 5th largest position. Mitchell Sinkler & Starr PA's holdings in Johnson & Johnson were worth $10,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $26,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the 4th quarter worth $36,000. Highline Wealth Partners LLC grew its position in shares of Johnson & Johnson by 51.8% during the 1st 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 period. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded down $2.08 during trading on Thursday, reaching $165.18. 3,882,115 shares of the stock were exchanged, compared to its average volume of 9,023,639. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The stock has a 50-day moving average price of $156.93 and a 200-day moving average price of $156.30. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market cap of $397.82 billion, a PE ratio of 17.70, a PEG ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 EPS. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analysts Set New Price Targets

Several research firms have weighed in on JNJ. Bank of America increased their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Royal Bank Of Canada increased their target price on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Erste Group Bank raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial lowered their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $174.50.

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.