Johnson & Johnson (NYSE:JNJ) Stock Holdings Cut by Morris Financial Concepts Inc.

Morris Financial Concepts Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 12.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,219 shares of the company’s stock after selling 444 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Johnson & Johnson were worth $509,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP lifted its holdings in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing 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% 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 lifted its holdings in shares of 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 lifted its holdings in shares of 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 owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several recent research reports. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. Morgan Stanley cut their price objective 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. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Finally, The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Trading Down 0.3 %

Shares of NYSE:JNJ opened at $146.03 on Wednesday. The company has a market cap of $351.45 billion, a P/E ratio of 9.10, a P/E/G ratio of 2.43 and a beta of 0.52. The stock’s 50-day moving average is $148.09 and its 200-day moving average is $153.97. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.68 earnings per share. Equities research analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a dividend of $1.24 per share. The ex-dividend date of this dividend 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 yield of 3.40%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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.