Arvest Investments Inc. Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Arvest Investments Inc. lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 21.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 21,219 shares of the company’s stock after selling 5,650 shares during the period. Arvest Investments Inc.’s holdings in Johnson & Johnson were worth $3,357,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Kennedy Capital Management LLC grew its position in Johnson & Johnson by 18.6% during the third quarter. Kennedy Capital Management LLC now owns 20,478 shares of the company’s stock valued at $3,189,000 after buying an additional 3,206 shares during the period. Ramirez Asset Management Inc. acquired a new stake in Johnson & Johnson during the third quarter valued at $1,180,000. Stonebridge Capital Advisors LLC grew its position in Johnson & Johnson by 4.9% during the third quarter. Stonebridge Capital Advisors LLC now owns 90,302 shares of the company’s stock valued at $14,065,000 after buying an additional 4,247 shares during the period. Pacific Center for Financial Services grew its position in Johnson & Johnson by 107.1% during the third quarter. Pacific Center for Financial Services now owns 1,553 shares of the company’s stock valued at $242,000 after buying an additional 803 shares during the period. Finally, Studio Investment Management LLC grew its position in shares of Johnson & Johnson by 7.8% in the third quarter. Studio Investment Management LLC now owns 26,356 shares of the company’s stock valued at $4,105,000 after purchasing an additional 1,909 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $145.69 on Friday. 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 firm’s 50-day moving average is $147.96 and its two-hundred day moving average is $153.85. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a market capitalization of $350.63 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the firm 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 year.

Johnson & Johnson Increases Dividend

The business 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. 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. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson 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.