Everett Harris & Co. CA Sells 8,351 Shares of Johnson & Johnson (NYSE:JNJ)

Everett Harris & Co. CA lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 551,309 shares of the company’s stock after selling 8,351 shares during the period. Johnson & Johnson comprises 1.2% of Everett Harris & Co. CA’s holdings, making the stock its 21st largest holding. Everett Harris & Co. CA’s holdings in Johnson & Johnson were worth $87,212,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp increased its stake in shares of 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 acquiring an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson during the fourth quarter worth $44,000. Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson in the fourth quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on JNJ shares. Morgan Stanley reduced their target price 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. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, July 1st. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $146.48 on Friday. The firm has a market cap of $352.53 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. The stock has a fifty day simple moving average of $147.94 and a two-hundred day simple moving average of $153.71. 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 1-year low of $143.13 and a 1-year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data 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 company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same quarter last year, the firm posted $2.68 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This is a boost 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 3.39%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.