Parr Mcknight Wealth Management Group LLC Sells 2,528 Shares of Johnson & Johnson (NYSE:JNJ)

Parr Mcknight Wealth Management Group LLC lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,724 shares of the company's stock after selling 2,528 shares during the quarter. Johnson & Johnson makes up approximately 1.3% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 12th largest position. Parr Mcknight Wealth Management Group LLC's holdings in Johnson & Johnson were worth $8,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company's stock worth $7,502,000 after acquiring an additional 6,332 shares during the period. Hudson Value Partners LLC boosted its holdings in shares of Johnson & Johnson by 2.5% during the fourth quarter. Hudson Value Partners LLC now owns 41,403 shares of the company's stock worth $5,648,000 after acquiring an additional 1,022 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Johnson & Johnson by 22.0% during the fourth quarter. Proficio Capital Partners LLC now owns 19,951 shares of the company's stock worth $2,885,000 after acquiring an additional 3,594 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Johnson & Johnson by 10,455.7% during the fourth quarter. Jupiter Asset Management Ltd. now owns 144,402 shares of the company's stock worth $20,883,000 after acquiring an additional 143,034 shares during the period. Finally, Essential Planning LLC. bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $3,252,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded up $0.01 during mid-day trading on Monday, hitting $156.91. 10,183,802 shares of the stock were exchanged, compared to its average volume of 9,032,046. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a 50-day simple moving average of $153.75 and a 200 day simple moving average of $154.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The company has a market capitalization of $377.55 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is currently 57.84%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JNJ. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and boosted their price target for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Bank of America cut their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.00.

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.