First City Capital Management Inc. Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

First City Capital Management Inc. reduced its position in Johnson & Johnson (NYSE:JNJ) by 5.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,422 shares of the company’s stock after selling 598 shares during the quarter. Johnson & Johnson accounts for about 1.0% of First City Capital Management Inc.’s holdings, making the stock its 24th largest holding. First City Capital Management Inc.’s holdings in Johnson & Johnson were worth $1,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MRP Capital Investments LLC raised its position in shares of Johnson & Johnson by 4.1% in the 4th quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after acquiring an additional 65 shares in the last quarter. Syverson Strege & Co increased its position in Johnson & Johnson by 4.9% during the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock valued at $202,000 after buying an additional 65 shares in the last quarter. Werba Rubin Papier Wealth Management increased its position in Johnson & Johnson by 3.3% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after buying an additional 66 shares in the last quarter. Denali Advisors LLC increased its position in Johnson & Johnson by 1.3% during the 4th quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock valued at $742,000 after buying an additional 67 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its position in Johnson & Johnson by 0.5% during the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock valued at $2,106,000 after buying an additional 67 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on JNJ shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Thursday. Barclays reduced their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group upgraded 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 note on Wednesday, April 9th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.02 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The firm has a market capitalization of $372.99 billion, a P/E ratio of 23.31, a PEG ratio of 2.56 and a beta of 0.42. The business has a fifty day moving average of $153.59 and a 200 day moving average of $153.68.

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

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.35%. Johnson & Johnson’s payout ratio is 57.84%.

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.