Welch & Forbes LLC Sells 5,409 Shares of Johnson & Johnson (NYSE:JNJ)

Welch & Forbes LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 687,197 shares of the company's stock after selling 5,409 shares during the quarter. Johnson & Johnson accounts for approximately 1.5% of Welch & Forbes LLC's holdings, making the stock its 20th biggest holding. Welch & Forbes LLC's holdings in Johnson & Johnson were worth $113,965,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $29,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $33,000. Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson in the fourth quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Johnson & Johnson in the fourth quarter valued at $38,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.4%

Johnson & Johnson stock traded up $0.67 during mid-day trading on Friday, reaching $163.65. The stock had a trading volume of 9,764,459 shares, compared to its average volume of 8,146,241. The company has a market capitalization of $393.75 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.21 and a beta of 0.41. The company has a 50-day moving average price of $154.10 and a two-hundred day moving average price of $154.84. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. 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 announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (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 net margin of 25.00% and a return on equity of 33.07%. Johnson & Johnson's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.18%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's dividend payout ratio is currently 55.61%.

Analyst Ratings Changes

JNJ has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price target on shares of Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday. Benchmark upgraded shares of Johnson & Johnson to a "strong-buy" rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $174.11.

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.