Park National Corp OH Sells 22,952 Shares of Johnson & Johnson (NYSE:JNJ)

Park National Corp OH decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 106,516 shares of the company's stock after selling 22,952 shares during the quarter. Park National Corp OH's holdings in Johnson & Johnson were worth $17,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $290,000. Capital & Planning LLC boosted its stake in shares of Johnson & Johnson by 13.6% during the 4th quarter. Capital & Planning LLC now owns 1,528 shares of the company's stock valued at $221,000 after buying an additional 183 shares during the period. Brighton Jones LLC boosted its stake in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Monte Financial Group LLC boosted its stake in shares of Johnson & Johnson by 0.9% during the 4th quarter. Monte Financial Group LLC now owns 36,172 shares of the company's stock valued at $5,231,000 after buying an additional 324 shares during the period. Finally, First Bancorp Inc ME boosted its stake in shares of Johnson & Johnson by 1.1% during the 4th quarter. First Bancorp Inc ME now owns 8,279 shares of the company's stock valued at $1,197,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.9%

NYSE JNJ traded up $1.41 during trading hours on Friday, hitting $154.99. The company's stock had a trading volume of 15,529,047 shares, compared to its average volume of 7,948,740. The stock has a fifty day moving average of $154.31 and a 200 day moving average of $153.65. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The firm has a market capitalization of $372.92 billion, a P/E ratio of 23.31, a PEG ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

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, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is presently 57.84%.

Analysts Set New Price Targets

A number of brokerages have issued reports on JNJ. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Sanford C. Bernstein reissued a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Barclays reduced their price objective 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. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average price target of $170.88.

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.