Peregrine Asset Advisers Inc. Cuts Position in Johnson & Johnson (NYSE:JNJ)

Peregrine Asset Advisers Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJFree Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,129 shares of the company’s stock after selling 189 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Johnson & Johnson were worth $1,919,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Chase Investment Counsel Corp increased its position in shares of Johnson & Johnson by 3.5% in the first quarter. Chase Investment Counsel Corp now owns 3,739 shares of the company’s stock valued at $591,000 after buying an additional 128 shares in the last quarter. Shoker Investment Counsel Inc. increased its position in shares of Johnson & Johnson by 0.7% in the first quarter. Shoker Investment Counsel Inc. now owns 18,625 shares of the company’s stock valued at $2,939,000 after buying an additional 127 shares in the last quarter. Farrow Financial Inc. increased its position in shares of Johnson & Johnson by 6.8% in the first quarter. Farrow Financial Inc. now owns 13,038 shares of the company’s stock valued at $2,062,000 after buying an additional 826 shares in the last quarter. Hudock Inc. increased its position in shares of Johnson & Johnson by 56.3% in the first quarter. Hudock Inc. now owns 14,017 shares of the company’s stock valued at $2,217,000 after buying an additional 5,048 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC increased its position in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after buying an additional 1,122 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on JNJ shares. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. HSBC raised 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 note on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, July 1st. The Goldman Sachs Group initiated 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. Finally, Bank of America decreased their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Eight research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

View Our Latest Research Report on Johnson & Johnson

Johnson & Johnson Price Performance

JNJ stock 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. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The stock’s 50 day moving average is $147.96 and its two-hundred day moving average is $153.59. The company has a market capitalization of $353.90 billion, a PE ratio of 9.17, 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, topping the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the business earned $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a $1.24 dividend. 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. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Johnson & Johnson Company 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.

Further Reading

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

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