Cutter & CO Brokerage Inc. Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cutter & CO Brokerage Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJFree Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,120 shares of the company’s stock after selling 776 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Johnson & Johnson were worth $335,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JNJ. Christopher J. Hasenberg Inc bought a new stake in Johnson & Johnson in the first quarter worth about $31,000. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $40,000. WFA Asset Management Corp increased its stake in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, July 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $174.07.

Check Out Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Price Performance

JNJ stock opened at $146.48 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock has a market cap of $352.53 billion, a PE ratio of 9.13, a P/E/G ratio of 2.42 and a beta of 0.52. The firm has a 50 day simple moving average of $147.94 and a two-hundred day simple moving average of $153.73.

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

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.39%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

About Johnson & Johnson

(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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