Johnson & Johnson (NYSE:JNJ) Shares Sold by Smithfield Trust Co

Smithfield Trust Co reduced its stake in Johnson & Johnson (NYSE:JNJ) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,219 shares of the company’s stock after selling 2,655 shares during the quarter. Smithfield Trust Co’s holdings in Johnson & Johnson were worth $13,172,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JNJ. Norges Bank purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $4,071,642,000. Wellington Management Group LLP raised its stake in Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Johnson & Johnson by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after purchasing an additional 241,799 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after buying an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after buying an additional 975,485 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.3 %

Shares of JNJ stock traded down $0.50 during trading hours on Monday, hitting $149.38. 733,920 shares of the company were exchanged, compared to its average volume of 7,227,623. The stock has a market capitalization of $359.51 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 2.52 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 business’s 50-day simple moving average is $147.94 and its two-hundred day simple moving average is $153.46. 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 announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.68 earnings per share. Sell-side analysts predict that Johnson & Johnson will post 10.5 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Monday, June 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, July 1st. Finally, Morgan Stanley decreased their price target 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. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has a consensus 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.