Tobam reduced its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 62.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,201 shares of the company's stock after selling 20,517 shares during the period. Tobam's holdings in Johnson & Johnson were worth $2,023,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after buying an additional 1,772,706 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company's stock worth $8,321,881,000 after buying an additional 1,561,036 shares during the last quarter. Northern Trust Corp increased its stake in shares of Johnson & Johnson by 12.3% in 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. Norges Bank bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $4,390,037,000. Finally, Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company's stock worth $3,522,447,000 after buying an additional 431,205 shares during the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on JNJ shares. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Morgan Stanley increased their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Barclays lowered their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada reiterated an "outperform" rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. Finally, Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $170.88.
Check Out Our Latest Stock Report on JNJ
Johnson & Johnson Stock Performance
Shares of Johnson & Johnson stock traded down $1.86 during trading on Monday, hitting $155.24. 7,022,773 shares of the stock were exchanged, compared to its average volume of 7,959,496. The stock's fifty day moving average is $153.96 and its 200 day moving average is $153.70. The stock has a market cap of $373.52 billion, a PE ratio of 23.34, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.
Johnson & Johnson Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.35%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is presently 57.84%.
About Johnson & Johnson
(
Free Report)
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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