Johnson & Johnson (NYSE:JNJ) Stock Holdings Decreased by Renaissance Investment Group LLC

Renaissance Investment Group LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 6,035 shares of the company’s stock after selling 135 shares during the period. Renaissance Investment Group LLC’s holdings in Johnson & Johnson were worth $1,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after buying an additional 7,185,977 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock valued at $1,149,536,000 after buying an additional 4,559,147 shares during the last quarter. Northern Trust Corp grew its position in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after buying an additional 3,363,235 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after buying an additional 2,825,626 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Guggenheim reaffirmed 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. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Raymond James Financial decreased their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two 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 a consensus price target of $174.50.

Johnson & Johnson Trading Down 1.3%

Shares of NYSE:JNJ opened at $166.18 on Tuesday. The company has a 50 day moving average of $156.36 and a 200-day moving average of $156.14. The firm has a market cap of $399.84 billion, a P/E ratio of 17.77, a P/E/G ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $22.85 billion. During the same period in the prior year, the business earned $2.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is presently 55.61%.

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.