University of Texas Texas AM Investment Management Co. Sells 4,136 Shares of Johnson & Johnson (NYSE:JNJ)

Key Points

• The University of Texas Texas AM Investment Management Co. reduced its holdings in Johnson & Johnson by 42.7%, owning 5,548 shares worth $920,000 after selling 4,136 shares in the first quarter.
• Analysts have raised their price targets for Johnson & Johnson, with Bank of America increasing its target from $161.00 to $175.00 and Barclays bumping it to $176.00, reflecting a positive outlook on the stock.
• The company announced a quarterly dividend of $1.30 per share, yielding 3.09%, to be paid on September 9th, with a payout ratio of 55.61%.

University of Texas Texas AM Investment Management Co. lowered its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 42.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,548 shares of the company's stock after selling 4,136 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Johnson & Johnson were worth $920,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Conquis Financial LLC bought a new position in Johnson & Johnson in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $36,000. Highline Wealth Partners LLC grew 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 worth $42,000 after acquiring an additional 86 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson during the 1st quarter worth $49,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JNJ. Royal Bank Of Canada boosted their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen lowered Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Bank of America upped their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. UBS Group upped their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Sanford C. Bernstein restated a "market perform" rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $174.50.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded down $1.21 during mid-day trading on Thursday, reaching $166.05. 2,980,538 shares of the company's stock were exchanged, compared to its average volume of 9,020,615. The business's fifty day simple moving average is $156.93 and its 200 day simple moving average is $156.30. The firm has a market capitalization of $399.90 billion, a PE ratio of 17.76, a P/E/G ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The company had revenue of $23.74 billion for 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 for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.82 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.13%. Johnson & Johnson's payout ratio is presently 55.61%.

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.