Saybrook Capital NC Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Saybrook Capital NC lessened its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 32.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,940 shares of the company's stock after selling 6,206 shares during the period. Johnson & Johnson makes up approximately 0.6% of Saybrook Capital NC's portfolio, making the stock its 24th biggest holding. Saybrook Capital NC's holdings in Johnson & Johnson were worth $2,146,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $29,000. Conquis Financial LLC bought a new position in Johnson & Johnson during the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Highline Wealth Partners LLC raised 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 worth $42,000 after acquiring an additional 86 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 0.0%

NYSE:JNJ opened at $152.25 on Friday. The firm has a market capitalization of $366.33 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.31 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. The company has a fifty day moving average of $153.85 and a 200 day moving average of $153.69. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to analysts' expectations of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. On average, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a $1.30 dividend. 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 3.42%. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is currently 57.84%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Barclays reduced their price objective 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. Royal Bank Of Canada restated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price target for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.