Johnson & Johnson (NYSE:JNJ) Shares Sold by Financial Management Network Inc.

Financial Management Network Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 17.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,674 shares of the company’s stock after selling 572 shares during the quarter. Financial Management Network Inc.’s holdings in Johnson & Johnson were worth $443,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kinsale Capital Group Inc. grew its position in Johnson & Johnson by 15.1% during the 1st quarter. Kinsale Capital Group Inc. now owns 58,331 shares of the company’s stock worth $9,674,000 after purchasing an additional 7,662 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $571,000. New Republic Capital LLC grew its position in shares of Johnson & Johnson by 15.1% during the 1st quarter. New Republic Capital LLC now owns 4,997 shares of the company’s stock valued at $829,000 after acquiring an additional 656 shares during the period. Pin Oak Investment Advisors Inc. grew its position in shares of Johnson & Johnson by 10.8% during the 1st quarter. Pin Oak Investment Advisors Inc. now owns 7,639 shares of the company’s stock valued at $1,342,000 after acquiring an additional 744 shares during the period. Finally, KFA Private Wealth Group LLC grew its position in shares of Johnson & Johnson by 48.0% during the 1st quarter. KFA Private Wealth Group LLC now owns 4,833 shares of the company’s stock valued at $802,000 after acquiring an additional 1,567 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James Financial dropped their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Guggenheim raised their target price on Johnson & Johnson from $164.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. The Goldman Sachs Group upgraded 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. Wall Street Zen cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Finally, UBS Group raised their target price on Johnson & Johnson from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $174.50.

Johnson & Johnson Trading Down 0.7%

JNJ opened at $168.29 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company’s 50 day simple moving average is $156.08 and its two-hundred day simple moving average is $155.97. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The firm has a market capitalization of $404.92 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. During the same period last year, the company posted $2.82 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 55.61%.

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.