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Wesleyan Assurance Society Sells 5,216 Shares of Johnson & Johnson (NYSE:JNJ)

Johnson & Johnson logo with Medical background

Wesleyan Assurance Society trimmed its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,799 shares of the company's stock after selling 5,216 shares during the period. Wesleyan Assurance Society's holdings in Johnson & Johnson were worth $12,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC raised its position in shares of Johnson & Johnson by 3.3% in the first quarter. Lantz Financial LLC now owns 11,974 shares of the company's stock valued at $1,986,000 after buying an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. acquired a new position in Johnson & Johnson in the fourth quarter valued at about $453,000. Joel Isaacson & Co. LLC grew its stake in Johnson & Johnson by 3.5% during the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after buying an additional 2,526 shares in the last quarter. State of Wyoming raised its position in Johnson & Johnson by 205,580.0% during the fourth quarter. State of Wyoming now owns 10,284 shares of the company's stock valued at $1,487,000 after purchasing an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC boosted its stake in Johnson & Johnson by 18.9% in the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock valued at $2,635,000 after buying an additional 2,529 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. UBS Group boosted their price objective on shares of Johnson & Johnson from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Raymond James Financial decreased their price objective on Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Bank of America lifted their target price on Johnson & Johnson from $161.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Finally, Wall Street Zen cut Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research note on Friday. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $172.87.

Check Out Our Latest Analysis on Johnson & Johnson

Johnson & Johnson Stock Up 2.2%

NYSE JNJ traded up $3.54 during trading hours on Tuesday, hitting $167.90. The company's stock had a trading volume of 9,277,637 shares, compared to its average volume of 8,151,378. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company's 50-day simple moving average is $154.29 and its two-hundred day simple moving average is $155.12. The company has a market capitalization of $403.99 billion, a PE ratio of 17.96, a price-to-earnings-growth 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.

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

Johnson & Johnson Announces Dividend

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

Johnson & Johnson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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