Johnson & Johnson (NYSE:JNJ) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 7.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 298,919 shares of the company’s stock after selling 24,660 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Johnson & Johnson were worth $49,573,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Investment Services Inc. grew its holdings in shares of Johnson & Johnson by 56.7% during the first quarter. American Investment Services Inc. now owns 15,839 shares of the company’s stock valued at $2,627,000 after buying an additional 5,733 shares in the last quarter. Gen Wealth Partners Inc grew its holdings in shares of Johnson & Johnson by 7.0% during the first quarter. Gen Wealth Partners Inc now owns 14,563 shares of the company’s stock valued at $2,415,000 after buying an additional 956 shares in the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of Johnson & Johnson by 3.9% during the first quarter. Thompson Davis & CO. Inc. now owns 2,484 shares of the company’s stock valued at $412,000 after buying an additional 94 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Johnson & Johnson by 10.5% during the first quarter. EverSource Wealth Advisors LLC now owns 19,646 shares of the company’s stock valued at $3,258,000 after buying an additional 1,863 shares in the last quarter. Finally, Brandywine Global Investment Management LLC grew its holdings in shares of Johnson & Johnson by 13.8% during the first quarter. Brandywine Global Investment Management LLC now owns 2,118,530 shares of the company’s stock valued at $351,337,000 after buying an additional 257,404 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $176.76 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $177.27. The business has a 50-day moving average of $161.28 and a two-hundred day moving average of $158.34. The stock has a market capitalization of $425.70 billion, a P/E ratio of 18.90, a P/E/G ratio of 2.23 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. Johnson & Johnson’s payout ratio is presently 55.61%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on JNJ shares. UBS Group lifted their price target on Johnson & Johnson from $180.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Wall Street Zen cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Morgan Stanley lifted their price objective on Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Guggenheim reissued a “neutral” rating and set a $167.00 price objective (up previously from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Leerink Partners cut 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 report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

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.