Sawgrass Asset Management LLC Has $10.49 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Sawgrass Asset Management LLC lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 42.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,265 shares of the company's stock after selling 46,130 shares during the quarter. Johnson & Johnson makes up 1.3% of Sawgrass Asset Management LLC's investment portfolio, making the stock its 24th largest holding. Sawgrass Asset Management LLC's holdings in Johnson & Johnson were worth $10,492,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and lifted their target price for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Raymond James Financial reduced their price target on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley lifted their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a report on Wednesday, April 16th. Finally, Barclays reduced their price target on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

Johnson & Johnson Stock Performance

JNJ traded up $0.14 on Wednesday, hitting $152.33. The company had a trading volume of 7,149,773 shares, compared to its average volume of 8,004,092. The company's fifty day moving average price is $153.95 and its 200 day moving average price is $153.67. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The stock has a market cap of $366.52 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.31 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Equities analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared 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. The ex-dividend date was Tuesday, May 27th. This is a positive change 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 3.41%. 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.