Quintet Private Bank Europe S.A. Decreases Stake in Johnson & Johnson (NYSE:JNJ)

Quintet Private Bank Europe S.A. lowered its position in Johnson & Johnson (NYSE:JNJ) by 28.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 23,537 shares of the company’s stock after selling 9,253 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Johnson & Johnson were worth $3,903,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at $29,000. Conquis Financial LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the 4th quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $156.61 on Friday. 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 50 day moving average price of $153.69 and a two-hundred day moving average price of $153.71. The firm has a market capitalization of $376.82 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts forecast 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. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.32%. Johnson & Johnson’s payout ratio is 57.84%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Thursday, June 5th. Finally, Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eleven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.