Olstein Capital Management L.P. Sells 4,000 Shares of Johnson & Johnson (NYSE:JNJ)

Olstein Capital Management L.P. cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,000 shares of the company's stock after selling 4,000 shares during the period. Johnson & Johnson comprises approximately 1.9% of Olstein Capital Management L.P.'s portfolio, making the stock its 6th largest position. Olstein Capital Management L.P.'s holdings in Johnson & Johnson were worth $10,116,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. MRP Capital Investments LLC boosted its position in Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock worth $237,000 after purchasing an additional 65 shares in the last quarter. Syverson Strege & Co raised its stake in shares of Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock worth $202,000 after buying an additional 65 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its position in shares of Johnson & Johnson by 3.3% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company's stock worth $301,000 after buying an additional 66 shares in the last quarter. Denali Advisors LLC increased its holdings in Johnson & Johnson by 1.3% during the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company's stock valued at $742,000 after acquiring an additional 67 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its stake in shares of Johnson & Johnson by 0.5% during the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock worth $2,106,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JNJ. Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Barclays dropped their price objective on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank of Canada reissued an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 5th. Finally, Leerink Partners downgraded Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Stock Up 0.8%

Shares of JNJ traded up $1.22 during midday trading on Tuesday, reaching $156.45. 6,791,151 shares of the company were exchanged, compared to its average volume of 7,934,952. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The stock has a 50-day moving average price of $153.59 and a 200-day moving average price of $153.67. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The company has a market cap of $376.43 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a $1.30 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's dividend 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.