Johnson & Johnson (NYSE:JNJ) Shares Sold by Canopy Partners LLC

Canopy Partners LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 3.5% during the first quarter, HoldingsChannel reports. The firm owned 14,052 shares of the company’s stock after selling 517 shares during the quarter. Johnson & Johnson accounts for 0.9% of Canopy Partners LLC’s holdings, making the stock its 27th biggest position. Canopy Partners LLC’s holdings in Johnson & Johnson were worth $2,330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Conquis Financial LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson during the fourth quarter worth about $36,000. Highline Wealth Partners LLC increased its position in shares of Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after purchasing an additional 86 shares in the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Capital A Wealth Management LLC purchased a new position in Johnson & Johnson during the 4th quarter worth approximately $50,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JNJ. Royal Bank Of Canada increased their price objective on Johnson & Johnson from $181.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, July 17th. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Bank of America lifted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Finally, Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.50.

Johnson & Johnson Trading Down 1.3%

NYSE:JNJ opened at $166.18 on Tuesday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a fifty day moving average price of $156.36 and a two-hundred day moving average price of $156.14. The stock has a market capitalization of $399.84 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 2.14 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data 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 firm had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. During the same quarter last year, the business earned $2.82 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 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.