Zhang Financial LLC Sells 15,502 Shares of Johnson & Johnson (NYSE:JNJ)

Zhang Financial LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 59.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,695 shares of the company's stock after selling 15,502 shares during the period. Zhang Financial LLC's holdings in Johnson & Johnson were worth $1,692,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $4,071,642,000. Wellington Management Group LLP grew its holdings in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company's stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company's stock valued at $2,483,532,000 after purchasing an additional 241,799 shares during the period. California Public Employees Retirement System grew its holdings in Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company's stock valued at $1,664,620,000 after purchasing an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Johnson & Johnson by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company's stock valued at $1,593,908,000 after purchasing an additional 975,485 shares during the period. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded down $3.80 during midday trading on Thursday, reaching $149.70. 7,404,790 shares of the stock traded hands, compared to its average volume of 7,355,758. The stock's fifty day moving average is $151.73 and its 200-day moving average is $155.11. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The stock has a market cap of $360.28 billion, a P/E ratio of 9.46, a PEG ratio of 2.51 and a beta of 0.55. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company earned $2.68 EPS. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.64 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.31%. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson's dividend payout ratio is presently 30.92%.

Analyst Ratings Changes

Several research firms have issued reports on JNJ. Cantor Fitzgerald reissued an "overweight" rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, May 6th. Morgan Stanley cut their price target on Johnson & Johnson from $168.00 to $167.00 and set an "equal weight" rating for the company in a report on Wednesday, April 17th. Bank of America lowered their price objective on Johnson & Johnson from $180.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Wednesday. Finally, HSBC upgraded Johnson & Johnson from a "hold" rating to a "buy" rating and boosted their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.86.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.