Vestcor Inc Sells 3,932 Shares of Johnson & Johnson (NYSE:JNJ)

Vestcor Inc decreased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,388 shares of the company's stock after selling 3,932 shares during the period. Johnson & Johnson makes up 0.8% of Vestcor Inc's portfolio, making the stock its 20th largest position. Vestcor Inc's holdings in Johnson & Johnson were worth $24,609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atlantic Family Wealth LLC lifted its position in Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company's stock worth $266,000 after buying an additional 67 shares in the last quarter. MBA Advisors LLC lifted its stake in Johnson & Johnson by 1.2% in the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company's stock valued at $921,000 after purchasing an additional 68 shares during the last quarter. Sovereign Financial Group Inc. lifted its stake in Johnson & Johnson by 1.8% in the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company's stock valued at $651,000 after purchasing an additional 69 shares during the last quarter. Nabity Jensen Investment Management Inc lifted its stake in Johnson & Johnson by 1.5% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company's stock valued at $767,000 after purchasing an additional 69 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. lifted its stake in Johnson & Johnson by 0.5% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 12,970 shares of the company's stock valued at $2,151,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company's stock.

Johnson & Johnson Price Performance

NYSE:JNJ traded up $2.59 during mid-day trading on Friday, hitting $167.33. 8,914,735 shares of the stock traded hands, compared to its average volume of 9,077,193. The business's 50-day moving average price is $157.18 and its 200 day moving average price is $156.44. The company has a market cap of $402.99 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.41. Johnson & Johnson has a 12-month low of $140.68 and a 12-month 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 quarterly 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. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. During the same quarter in the previous year, the company earned $2.82 EPS. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 annualized dividend and a yield of 3.1%. Johnson & Johnson's dividend payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. Sanford C. Bernstein reiterated a "market perform" rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Guggenheim reaffirmed a "neutral" rating and set a $167.00 price target (up previously from $164.00) on shares of Johnson & Johnson in a research note on Thursday, July 17th. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Raymond James Financial reduced their price target 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. Finally, Benchmark raised shares of Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.

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.