Tealwood Asset Management Inc. Sells 137 Shares of Johnson & Johnson (NYSE:JNJ)

Tealwood Asset Management Inc. lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% during the 1st quarter, Holdings Channel reports. The fund owned 15,856 shares of the company’s stock after selling 137 shares during the period. Johnson & Johnson comprises approximately 1.2% of Tealwood Asset Management Inc.’s holdings, making the stock its 17th largest position. Tealwood Asset Management Inc.’s holdings in Johnson & Johnson were worth $2,630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson during the 4th quarter valued at $29,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $32,000. Conquis Financial LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $33,000. Finally, Bernard Wealth Management Corp. bought a new stake in Johnson & Johnson during the 4th quarter valued at $36,000. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on JNJ. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Finally, Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Eleven equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.02 on Friday. The stock has a 50-day moving average of $153.59 and a two-hundred day moving average of $153.68. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. 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 stock has a market cap of $372.99 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed 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 dividend yield of 3.35%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

About Johnson & Johnson

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.