Sit Investment Associates Inc. Sells 34,165 Shares of Johnson & Johnson (NYSE:JNJ)

Sit Investment Associates Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 52.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,555 shares of the company's stock after selling 34,165 shares during the quarter. Sit Investment Associates Inc.'s holdings in Johnson & Johnson were worth $5,233,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in JNJ. Nuveen LLC bought a new stake in Johnson & Johnson during the first quarter worth approximately $1,369,188,000. GAMMA Investing LLC lifted its holdings in shares of Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after buying an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock worth $1,149,536,000 after buying an additional 4,559,147 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock worth $4,456,201,000 after buying an additional 3,363,235 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Up 0.3%

Shares of NYSE JNJ opened at $174.96 on Friday. The stock has a market cap of $421.37 billion, a PE ratio of 18.71, a PEG ratio of 2.22 and a beta of 0.41. The business has a fifty day moving average of $160.85 and a two-hundred day moving average of $158.16. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $175.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $2.82 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research analyst reports. Guggenheim reiterated a "neutral" rating and set a $167.00 price target (up from $164.00) on shares of Johnson & Johnson in a report on Thursday, July 17th. UBS Group upped their price target on Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Royal Bank Of Canada upped their price target on Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Company 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.

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