Dillon & Associates Inc. Sells 701 Shares of Johnson & Johnson (NYSE:JNJ)

Dillon & Associates Inc. reduced its position in Johnson & Johnson (NYSE:JNJFree Report) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,038 shares of the company’s stock after selling 701 shares during the period. Dillon & Associates Inc.’s holdings in Johnson & Johnson were worth $3,956,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 4.3% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after acquiring an additional 226 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Johnson & Johnson by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC boosted its holdings in shares of Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after buying an additional 4,457 shares during the last quarter. Drive Wealth Management LLC grew its position in shares of Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after acquiring an additional 414 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its stake in shares of Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after buying an additional 2,201 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $146.48 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $147.94 and a 200 day moving average price of $153.73. 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 $352.53 billion, a PE ratio of 9.13, a P/E/G ratio of 2.42 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJGet 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 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%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. 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. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Bank of America lowered their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, July 1st. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Check Out Our Latest Analysis on JNJ

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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