Johnson & Johnson (NYSE:JNJ) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,432 shares of the company’s stock after selling 464 shares during the period. Geneos Wealth Management Inc.’s holdings in Johnson & Johnson were worth $5,605,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $4,071,642,000. Wellington Management Group LLP lifted its stake in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after acquiring an additional 3,391,657 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 worth $2,483,532,000 after acquiring an additional 241,799 shares during the last quarter. California Public Employees Retirement System lifted its stake in 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 worth $1,664,620,000 after acquiring an additional 498,647 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after acquiring an additional 975,485 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $149.69 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 stock has a market capitalization of $360.26 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 2.49 and a beta of 0.52. The firm’s fifty day simple moving average is $147.92 and its 200-day simple moving average is $153.54. Johnson & Johnson has a 12 month low of $143.13 and a 12 month 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 (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 analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.68 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a $1.24 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JNJ shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, July 1st. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, Bank of America reduced their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.07.

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.