Pacific Wealth Strategies Group Inc. Sells 451 Shares of Johnson & Johnson (NYSE:JNJ)

Pacific Wealth Strategies Group Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJFree Report) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,952 shares of the company’s stock after selling 451 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Johnson & Johnson were worth $309,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $4,071,642,000. Wellington Management Group LLP boosted its holdings in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after buying an additional 3,391,657 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 last quarter. California Public Employees Retirement System boosted its stake in Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after acquiring an additional 975,485 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $147.05 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $147.96 and a 200 day moving average of $153.59. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The stock has a market cap of $353.90 billion, a P/E ratio of 9.17, a PEG ratio of 2.42 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share 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 analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.68 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current 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 paid a dividend of $1.24 per share. The ex-dividend date 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 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, July 1st. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Check Out Our Latest Analysis on Johnson & Johnson

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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