Meyer Handelman Co. Has $22.57 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Meyer Handelman Co. cut its holdings in Johnson & Johnson (NYSE:JNJ) by 0.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 136,109 shares of the company’s stock after selling 1,244 shares during the quarter. Meyer Handelman Co.’s holdings in Johnson & Johnson were worth $22,572,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson during the fourth quarter worth $29,000. Bay Harbor Wealth Management LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $32,000. Conquis Financial LLC bought a new stake in Johnson & Johnson during the fourth quarter worth $33,000. Finally, Bernard Wealth Management Corp. bought a new position in Johnson & Johnson in the 4th quarter valued at $36,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE JNJ opened at $154.99 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The business has a 50-day simple moving average of $154.31 and a two-hundred day simple moving average of $153.65. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The company has a market cap of $372.92 billion, a P/E ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42.

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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.36%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JNJ. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price objective for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Wall Street Zen cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Raymond James dropped their price target 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. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $170.88.

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.