Synergy Asset Management LLC Sells 7,667 Shares of Johnson & Johnson (NYSE:JNJ)

Synergy Asset Management LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 60.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,067 shares of the company's stock after selling 7,667 shares during the period. Synergy Asset Management LLC's holdings in Johnson & Johnson were worth $840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the 4th quarter valued at $36,000. Finally, Highline Wealth Partners LLC raised its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 0.6%

Shares of NYSE:JNJ opened at $149.81 on Monday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The business's fifty day simple moving average is $154.07 and its 200-day simple moving average is $153.68. The company has a market capitalization of $360.44 billion, a PE ratio of 16.66, a P/E/G ratio of 2.27 and a beta of 0.42. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities research 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.47%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson's payout ratio is 57.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Leerink Partners lowered Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Barclays decreased their target price on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Raymond James Financial decreased their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $181.00 target price on shares of Johnson & Johnson in a research report on Thursday, June 5th. Finally, Bank of America decreased their target price on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Eleven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.

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.

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