Webster Bank N. A. Sells 2,152 Shares of Johnson & Johnson (NYSE:JNJ)

Webster Bank N. A. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,566 shares of the company's stock after selling 2,152 shares during the period. Webster Bank N. A.'s holdings in Johnson & Johnson were worth $7,391,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JNJ. Sulzberger Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $453,000. Oregon Pacific Wealth Management LLC purchased a new position in Johnson & Johnson in the 4th quarter worth approximately $949,000. Horan Securities Inc. lifted its position in Johnson & Johnson by 1.3% in the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock valued at $1,038,000 after purchasing an additional 90 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Johnson & Johnson by 57.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company's stock valued at $501,000 after purchasing an additional 1,271 shares during the period. Finally, State of Wyoming grew its holdings in shares of Johnson & Johnson by 205,580.0% in the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock worth $1,487,000 after purchasing an additional 10,279 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.6%

JNJ traded down $0.94 during trading on Monday, reaching $154.27. The stock had a trading volume of 2,199,865 shares, compared to its average volume of 7,926,302. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a market capitalization of $371.18 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The stock's 50 day moving average is $154.31 and its two-hundred day moving average is $153.66.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. As a group, analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be given a $1.30 dividend. This is a boost from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JNJ. Leerink Partners lowered shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Raymond James cut their target price on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Bank of America lowered their price target 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. Finally, Guggenheim reiterated a "neutral" rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

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.