Johnson & Johnson (NYSE:JNJ) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 23.5% in the 1st quarter, Holdings Channel reports. The fund owned 80,116 shares of the company’s stock after selling 24,667 shares during the quarter. Easterly Investment Partners LLC’s holdings in Johnson & Johnson were worth $12,674,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Christopher J. Hasenberg Inc acquired a new stake in Johnson & Johnson during the 1st quarter valued at $31,000. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $40,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $44,000. Finally, Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson during the 4th quarter valued at $45,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.4 %

NYSE:JNJ opened at $148.86 on Thursday. The company has a market capitalization of $358.26 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The stock has a 50-day simple moving average of $147.93 and a 200 day simple moving average of $153.56. 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 earnings results on Tuesday, April 16th. The company reported $2.71 EPS 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 the consensus estimate of $21.39 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders 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 annualized dividend and a dividend yield of 3.33%. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on JNJ shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Monday, July 1st. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group began coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.