Rehmann Capital Advisory Group Sells 3,081 Shares of Johnson & Johnson (NYSE:JNJ)

Rehmann Capital Advisory Group lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,116 shares of the company's stock after selling 3,081 shares during the quarter. Rehmann Capital Advisory Group's holdings in Johnson & Johnson were worth $6,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in JNJ. Vanguard Group Inc. lifted its position in Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after buying an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after acquiring an additional 1,561,036 shares in the last quarter. Northern Trust Corp boosted its position in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares during the last quarter. Norges Bank purchased a new position in Johnson & Johnson in the fourth quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP increased its position in Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after purchasing an additional 431,205 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

JNJ stock traded down $0.82 during midday trading on Friday, reaching $156.87. 7,866,488 shares of the stock were exchanged, compared to its average volume of 8,066,975. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a fifty day moving average price of $153.73 and a 200 day moving average price of $154.35. The stock has a market capitalization of $377.44 billion, a PE ratio of 17.45, a P/E/G ratio of 2.15 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The company had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. As a group, analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.31%. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent research reports. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Barclays cut their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Guggenheim restated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Bank of America cut their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Eleven 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's stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average 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.