Traphagen Investment Advisors LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Traphagen Investment Advisors LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,893 shares of the company’s stock after selling 325 shares during the quarter. Traphagen Investment Advisors LLC’s holdings in Johnson & Johnson were worth $1,641,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the fourth quarter valued at about $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson in the fourth quarter valued at about $38,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. Bank of America decreased their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Leerink Partners cut Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Morgan Stanley increased their price objective on Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Eleven investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Up 0.2%

Johnson & Johnson stock opened at $156.90 on Monday. The firm has a market cap of $377.52 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The business’s 50-day moving average price is $153.84 and its 200 day moving average price is $153.70. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

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

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis 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 is currently 57.84%.

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.