Robertson Stephens Wealth Management LLC Has $4.30 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Robertson Stephens Wealth Management LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 16.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,948 shares of the company's stock after selling 5,157 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Johnson & Johnson were worth $4,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson during the 4th quarter worth $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $33,000. Bernard Wealth Management Corp. acquired a new stake in Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Highline Wealth Partners LLC grew its position in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after acquiring an additional 86 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on JNJ shares. Morgan Stanley increased their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Bank of America lowered their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Trading Down 1.1%

Shares of NYSE:JNJ traded down $1.61 during trading on Wednesday, reaching $150.77. The stock had a trading volume of 8,323,506 shares, compared to its average volume of 7,959,915. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm's fifty day moving average is $154.03 and its 200 day moving average is $153.69. The stock has a market cap of $362.76 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 2.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

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, 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 for the quarter, compared to analysts' expectations of $21.65 billion. As a group, equities analysts forecast 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 paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.45%. Johnson & Johnson's payout ratio is 57.84%.

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.