Petros Family Wealth LLC Cuts Position in Johnson & Johnson (NYSE:JNJ)

Petros Family Wealth LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 39.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,912 shares of the company's stock after selling 1,894 shares during the period. Petros Family Wealth LLC's holdings in Johnson & Johnson were worth $483,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson during the fourth quarter worth $29,000. Conquis Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the 4th quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter valued at $38,000. Institutional investors own 69.55% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Morgan Stanley increased their price target on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Leerink Partnrs downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen upgraded Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $170.88.

Johnson & Johnson Stock Up 0.3%

JNJ stock traded up $0.43 during mid-day trading on Friday, reaching $152.44. 9,999,068 shares of the company traded hands, compared to its average volume of 8,028,733. The stock has a market cap of $366.78 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 2.30 and a beta of 0.42. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm's 50 day moving average price is $153.85 and its 200 day moving average price is $153.69.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its 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 net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors 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 3.41%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is 57.84%.

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.