Western Wealth Management LLC Sells 2,034 Shares of Johnson & Johnson (NYSE:JNJ)

Western Wealth Management LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 12.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,732 shares of the company's stock after selling 2,034 shares during the quarter. Western Wealth Management LLC's holdings in Johnson & Johnson were worth $2,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Lantz Financial LLC grew its stake 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 worth $1,986,000 after purchasing an additional 377 shares during the last quarter. Sulzberger Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $453,000. Horan Securities Inc. grew its stake in shares of Johnson & Johnson by 1.3% in the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company's stock worth $1,038,000 after purchasing an additional 90 shares during the last quarter. State of Wyoming grew its stake 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. Finally, Range Financial Group LLC grew its stake in shares of Johnson & Johnson by 18.9% in the first quarter. Range Financial Group LLC now owns 15,886 shares of the company's stock worth $2,635,000 after purchasing an additional 2,529 shares during the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Up 0.3%

JNJ opened at $152.44 on Friday. 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 has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm has a market capitalization of $366.78 billion, a PE ratio of 16.96, a P/E/G ratio of 2.30 and a beta of 0.42. The company's 50-day moving average is $153.75 and its 200 day moving average is $153.71.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. As a group, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. Johnson & Johnson's dividend payout ratio is currently 57.84%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Leerink Partners cut shares of Johnson & Johnson from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Raymond James Financial cut their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Barclays cut their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley upped their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average target price of $170.88.

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.

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