Mogy Joel R Investment Counsel Inc. Sells 6,640 Shares of Johnson & Johnson (NYSE:JNJ)

Mogy Joel R Investment Counsel Inc. decreased its stake in Johnson & Johnson (NYSE:JNJ) by 17.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,680 shares of the company’s stock after selling 6,640 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $5,254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Tallon Kerry Patrick acquired a new position in Johnson & Johnson during the fourth quarter valued at approximately $290,000. Capital & Planning LLC boosted its position in shares of Johnson & Johnson by 13.6% during the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company’s stock worth $221,000 after purchasing an additional 183 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Johnson & Johnson by 13.9% in the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after buying an additional 6,332 shares during the period. Union Bancaire Privee UBP SA bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at $85,886,000. Finally, Family Capital Trust Co raised its stake in Johnson & Johnson by 1.6% during the 4th quarter. Family Capital Trust Co now owns 41,486 shares of the company’s stock worth $6,000,000 after buying an additional 661 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several recent analyst reports. Raymond James lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 16th. Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Bank of America cut their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $156.61 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. The business has a 50-day moving average of $153.69 and a 200-day moving average of $153.71. The stock has a market capitalization of $376.82 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week 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, beating analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.32%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson’s payout ratio is presently 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.