Princeton Global Asset Management LLC Sells 12,279 Shares of Johnson & Johnson (NYSE:JNJ)

Princeton Global Asset Management LLC lessened its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 19.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,064 shares of the company's stock after selling 12,279 shares during the quarter. Johnson & Johnson comprises 1.6% of Princeton Global Asset Management LLC's holdings, making the stock its 14th largest position. Princeton Global Asset Management LLC's holdings in Johnson & Johnson were worth $8,303,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tallon Kerry Patrick purchased a new position in Johnson & Johnson in the fourth quarter valued at $290,000. Capital & Planning LLC boosted its stake in shares of Johnson & Johnson by 13.6% during the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company's stock worth $221,000 after buying an additional 183 shares during the period. Brighton Jones LLC raised its stake 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 purchasing an additional 6,332 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $85,886,000. Finally, Mather Group LLC. lifted its holdings in shares of Johnson & Johnson by 1.8% in the 4th quarter. Mather Group LLC. now owns 131,844 shares of the company's stock valued at $19,067,000 after buying an additional 2,315 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.1%

JNJ stock traded up $0.16 during mid-day trading on Monday, hitting $155.19. The stock had a trading volume of 5,318,668 shares, compared to its average volume of 7,939,526. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a fifty day moving average of $153.59 and a 200 day moving average of $153.67. The stock has a market capitalization of $373.40 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

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

Johnson & Johnson Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.35%. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 57.84%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JNJ. Bank of America decreased their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price target for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Royal Bank of Canada reissued an "outperform" rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus price target of $170.88.

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.