Hexagon Capital Partners LLC Decreases Stock Position in Johnson & Johnson (NYSE:JNJ)

Hexagon Capital Partners LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,518 shares of the company’s stock after selling 83 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Johnson & Johnson were worth $873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at about $40,000. WFA Asset Management Corp raised its stake in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $44,000. Disciplined Equity Management Inc. purchased a new position in shares of Johnson & Johnson in the fourth quarter worth about $45,000. Finally, Grayhawk Investment Strategies Inc. raised its stake in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.3 %

Shares of JNJ opened at $146.03 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The stock’s 50 day moving average is $148.09 and its two-hundred day moving average is $153.97. The firm has a market cap of $351.45 billion, a P/E ratio of 9.10, a PEG ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating 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 analyst estimates of $21.39 billion. During the same period last year, the company earned $2.68 earnings per share. Johnson & Johnson’s quarterly revenue 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 declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date was Monday, May 20th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Bank of America reduced their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.07.

About Johnson & Johnson

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.