Stock Yards Bank & Trust Co. Sells 33,354 Shares of Johnson & Johnson (NYSE:JNJ)

Stock Yards Bank & Trust Co. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 21.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,995 shares of the company’s stock after selling 33,354 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Johnson & Johnson were worth $20,397,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of JNJ. Norges Bank bought a new stake in Johnson & Johnson during the fourth quarter worth $4,390,037,000. Raymond James Financial Inc. bought a new stake in Johnson & Johnson during the fourth quarter worth $1,339,878,000. GAMMA Investing LLC grew its holdings in Johnson & Johnson by 24,450.4% during the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock worth $1,196,596,000 after buying an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Johnson & Johnson by 134.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after buying an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after buying an additional 3,363,235 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.2%

JNJ stock opened at $156.90 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 company has a market capitalization of $377.52 billion, a price-to-earnings ratio of 23.59, 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. The stock has a fifty day moving average of $153.84 and a 200-day moving average of $153.71.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results 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 business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.31%. 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%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on JNJ. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their target price for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Raymond James decreased their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson 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.