Johnson & Johnson (NYSE:JNJ) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 0.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,832 shares of the company’s stock after selling 528 shares during the quarter. Johnson & Johnson accounts for about 0.6% of Goelzer Investment Management Inc.’s holdings, making the stock its 29th biggest holding. Goelzer Investment Management Inc.’s holdings in Johnson & Johnson were worth $9,425,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Oppenheimer Asset Management Inc. raised its holdings in Johnson & Johnson by 13.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 656,765 shares of the company’s stock worth $108,918,000 after purchasing an additional 76,201 shares in the last quarter. Vantage Point Financial LLC raised its holdings in Johnson & Johnson by 10.7% during the first quarter. Vantage Point Financial LLC now owns 2,647 shares of the company’s stock worth $439,000 after purchasing an additional 255 shares in the last quarter. EQ Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the first quarter worth approximately $78,000. Park Capital Management LLC WI raised its holdings in Johnson & Johnson by 2.0% during the first quarter. Park Capital Management LLC WI now owns 6,365 shares of the company’s stock worth $1,056,000 after purchasing an additional 125 shares in the last quarter. Finally, XML Financial LLC raised its holdings in Johnson & Johnson by 1.4% during the first quarter. XML Financial LLC now owns 70,496 shares of the company’s stock worth $11,691,000 after purchasing an additional 959 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research analyst reports. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Leerink Partners cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Raymond James Financial cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Finally, Barclays cut their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $152.27 on Wednesday. The firm has a market capitalization of $366.36 billion, a P/E ratio of 16.94, a PEG ratio of 2.29 and a beta of 0.42. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company’s fifty day moving average is $153.99 and its two-hundred day moving average is $153.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

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. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. Analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal 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 given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s payout ratio is presently 57.84%.

About Johnson & Johnson

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.