Twin Capital Management Inc. Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Twin Capital Management Inc. lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,392 shares of the company's stock after selling 1,870 shares during the period. Johnson & Johnson comprises 1.0% of Twin Capital Management Inc.'s holdings, making the stock its 15th largest position. Twin Capital Management Inc.'s holdings in Johnson & Johnson were worth $8,855,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth $29,000. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the 4th quarter worth $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $38,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.2%

Shares of JNJ traded down $0.28 during mid-day trading on Wednesday, hitting $167.66. 3,702,658 shares of the company's stock were exchanged, compared to its average volume of 8,134,632. The company has a market cap of $403.39 billion, a PE ratio of 17.92, a P/E/G ratio of 2.09 and a beta of 0.41. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The company has a 50-day simple moving average of $154.29 and a 200 day simple moving average of $155.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The business's quarterly revenue was up 5.8% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is 55.61%.

Analysts Set New Price Targets

JNJ has been the subject of a number of analyst reports. UBS Group reiterated a "buy" rating and set a $190.00 target price (up previously from $180.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Royal Bank Of Canada upped their price objective on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Raymond James Financial reduced their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Leerink Partnrs cut shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $172.87.

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.