Forbes J M & Co. LLP Sells 1,393 Shares of Johnson & Johnson (NYSE:JNJ)

Forbes J M & Co. LLP trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,234 shares of the company’s stock after selling 1,393 shares during the quarter. Johnson & Johnson makes up about 1.9% of Forbes J M & Co. LLP’s portfolio, making the stock its 13th biggest holding. Forbes J M & Co. LLP’s holdings in Johnson & Johnson were worth $17,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Keener Financial Planning LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at $40,000. WFA Asset Management Corp boosted its stake in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson in the 4th quarter valued at $44,000. Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson in the 4th quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Up 0.7 %

Shares of JNJ stock traded up $0.97 during trading hours on Friday, reaching $148.75. The company had a trading volume of 15,176,869 shares, compared to its average volume of 6,685,153. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The business has a fifty day simple moving average of $148.05 and a 200-day simple moving average of $154.35. The company has a market cap of $357.99 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its earnings results 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. 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 during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the previous year, the company posted $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts expect that Johnson & Johnson will post 10.63 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. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.33%. Johnson & Johnson’s dividend payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JNJ shares. Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Monday, June 17th. Morgan Stanley dropped their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group began coverage on Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Company Profile

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.