Johnson & Johnson (NYSE:JNJ) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 51.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,945 shares of the company’s stock after selling 35,674 shares during the quarter. Cullen Investment Group LTD.’s holdings in Johnson & Johnson were worth $5,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MRP Capital Investments LLC grew its position in Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after buying an additional 65 shares during the period. Syverson Strege & Co grew its position in Johnson & Johnson by 4.9% during the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock worth $202,000 after buying an additional 65 shares during the period. Werba Rubin Papier Wealth Management grew its position in Johnson & Johnson by 3.3% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock worth $301,000 after buying an additional 66 shares during the period. Denali Advisors LLC grew its position in Johnson & Johnson by 1.3% during the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock worth $742,000 after buying an additional 67 shares during the period. Finally, Sage Mountain Advisors LLC grew its position in Johnson & Johnson by 0.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after buying an additional 67 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $152.53 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The company has a market capitalization of $367.00 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 2.56 and a beta of 0.42. The company’s 50 day simple moving average is $154.63 and its 200 day simple moving average is $153.64. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.41%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday, April 16th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Morgan Stanley upped their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Finally, Bank of America reduced their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.