Johnson & Johnson (NYSE:JNJ) Position Lessened by Sentry Investment Management LLC

Sentry Investment Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 23.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,622 shares of the company's stock after selling 2,277 shares during the period. Johnson & Johnson accounts for about 0.8% of Sentry Investment Management LLC's investment portfolio, making the stock its 20th largest position. Sentry Investment Management LLC's holdings in Johnson & Johnson were worth $1,264,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. MRP Capital Investments LLC boosted its stake in shares of Johnson & Johnson by 4.1% during the 4th quarter. MRP Capital Investments LLC now owns 1,640 shares of the company's stock worth $237,000 after purchasing an additional 65 shares during the last quarter. Syverson Strege & Co boosted its stake in shares of Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company's stock worth $202,000 after purchasing an additional 65 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its stake in shares of Johnson & Johnson by 3.3% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company's stock worth $301,000 after purchasing an additional 66 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of Johnson & Johnson by 1.3% during the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company's stock worth $742,000 after purchasing an additional 67 shares during the last quarter. Finally, Sage Mountain Advisors LLC lifted its holdings in shares of Johnson & Johnson by 0.5% during the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company's stock worth $2,106,000 after acquiring an additional 67 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Morgan Stanley increased their price objective 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. Raymond James cut their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Stock Down 0.7%

Shares of JNJ stock traded down $1.03 during mid-day trading on Wednesday, reaching $153.39. 6,979,516 shares of the company were exchanged, compared to its average volume of 7,943,306. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $369.07 billion, a P/E ratio of 23.07, a P/E/G ratio of 2.56 and a beta of 0.42. The business's 50 day simple moving average is $154.01 and its 200 day simple moving average is $153.68.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. 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 will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Tuesday, May 27th. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's payout ratio is currently 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.