State of Alaska Department of Revenue Trims Holdings in Johnson & Johnson (NYSE:JNJ)

State of Alaska Department of Revenue cut its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 387,638 shares of the company’s stock after selling 29,095 shares during the quarter. Johnson & Johnson comprises approximately 0.7% of State of Alaska Department of Revenue’s portfolio, making the stock its 15th largest holding. State of Alaska Department of Revenue’s holdings in Johnson & Johnson were worth $61,319,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in JNJ. Tradewinds Capital Management LLC increased its holdings in shares of Johnson & Johnson by 3.3% in the first quarter. Tradewinds Capital Management LLC now owns 3,128 shares of the company’s stock valued at $495,000 after purchasing an additional 100 shares during the period. Sivia Capital Partners LLC increased its stake in Johnson & Johnson by 22.0% in the 1st quarter. Sivia Capital Partners LLC now owns 4,606 shares of the company’s stock valued at $729,000 after buying an additional 830 shares during the period. Azzad Asset Management Inc. ADV raised its position in Johnson & Johnson by 1.6% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 45,840 shares of the company’s stock worth $7,251,000 after buying an additional 735 shares during the last quarter. Sloy Dahl & Holst LLC lifted its stake in shares of Johnson & Johnson by 4.9% in the 1st quarter. Sloy Dahl & Holst LLC now owns 5,411 shares of the company’s stock worth $856,000 after acquiring an additional 255 shares during the period. Finally, Plimoth Trust Co. LLC boosted its holdings in shares of Johnson & Johnson by 4.6% in the first quarter. Plimoth Trust Co. LLC now owns 34,163 shares of the company’s stock valued at $5,404,000 after acquiring an additional 1,513 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on JNJ. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America decreased their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.07.

Get Our Latest Stock Report on JNJ

Johnson & Johnson Trading Down 0.2 %

Shares of Johnson & Johnson stock opened at $145.69 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The business has a 50 day moving average price of $147.96 and a 200 day moving average price of $153.85. The company has a market capitalization of $350.63 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.42 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.68 earnings per share. Sell-side analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson Profile

(Free Report)

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.

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

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