Westpac Banking Corp cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 22.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 393,495 shares of the company’s stock after selling 116,408 shares during the period. Westpac Banking Corp’s holdings in Johnson & Johnson were worth $45,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lenox Wealth Advisors Inc. increased its position in shares of Johnson & Johnson by 0.7% in the first quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock worth $108,000 after buying an additional 6 shares during the last quarter. Lbmc Investment Advisors LLC increased its position in shares of Johnson & Johnson by 0.4% in the first quarter. Lbmc Investment Advisors LLC now owns 3,704 shares of the company’s stock worth $461,000 after buying an additional 14 shares during the last quarter. Berson & Corrado Investment Advisors LLC increased its position in shares of Johnson & Johnson by 0.7% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 2,835 shares of the company’s stock worth $353,000 after buying an additional 19 shares during the last quarter. RB Capital Management LLC increased its position in shares of Johnson & Johnson by 0.4% in the first quarter. RB Capital Management LLC now owns 5,559 shares of the company’s stock worth $692,000 after buying an additional 24 shares during the last quarter. Finally, Madrona Financial Services LLC increased its position in shares of Johnson & Johnson by 1.7% in the first quarter. Madrona Financial Services LLC now owns 2,617 shares of the company’s stock worth $326,000 after buying an additional 43 shares during the last quarter. 66.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of Johnson & Johnson (NYSE JNJ) opened at 132.86 on Tuesday. Johnson & Johnson has a one year low of $109.32 and a one year high of $137.08. The firm has a market cap of $357.90 billion, a price-to-earnings ratio of 22.48 and a beta of 0.78. The stock’s 50 day moving average price is $133.33 and its 200 day moving average price is $125.48.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, July 18th. The company reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.04. The company had revenue of $18.84 billion for the quarter, compared to analyst estimates of $18.94 billion. Johnson & Johnson had a return on equity of 26.76% and a net margin of 22.52%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 earnings per share. On average, equities analysts anticipate that Johnson & Johnson will post $7.18 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.53%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 56.76%.

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Several research analysts have commented on JNJ shares. UBS AG reaffirmed a “buy” rating and issued a $136.00 price target on shares of Johnson & Johnson in a research report on Monday, May 15th. Vetr raised Johnson & Johnson from a “hold” rating to a “buy” rating and set a $132.33 price target on the stock in a research report on Thursday, May 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $128.00 price target (up from $124.00) on shares of Johnson & Johnson in a research report on Thursday, May 18th. BidaskClub raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $135.00 price target (up from $132.00) on shares of Johnson & Johnson in a research report on Thursday, July 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $133.72.

In related news, VP Paulus Stoffels sold 102,692 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the sale, the vice president now owns 230,342 shares of the company’s stock, valued at $30,667,733.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Dominic J. Caruso sold 82,591 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total value of $11,291,841.52. Following the sale, the vice president now directly owns 226,693 shares in the company, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

About Johnson & Johnson

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.

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

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