Keystone Financial Planning Inc. Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Keystone Financial Planning Inc. cut its holdings in shares of Johnson & Johnson (NYSE:JNJFree Report) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,145 shares of the company’s stock after selling 415 shares during the period. Keystone Financial Planning Inc.’s holdings in Johnson & Johnson were worth $1,605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Johnson & Johnson during the fourth quarter worth approximately $4,071,642,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 1.5% in 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 in the last quarter. California Public Employees Retirement System boosted its holdings in Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Thursday. Finally, Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Hold” and a consensus price target of $174.07.

View Our Latest Stock Analysis on JNJ

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $2.12 during mid-day trading on Thursday, hitting $147.77. 8,749,383 shares of the company were exchanged, compared to its average volume of 7,371,235. 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 stock has a 50 day simple moving average of $148.02 and a 200-day simple moving average of $154.45. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a market cap of $355.63 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share 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 firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period last year, the company earned $2.68 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued 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 annualized dividend and a dividend yield of 3.36%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.

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

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