New Covenant Trust Company N.A. Sells 245 Shares of Johnson & Johnson (NYSE:JNJ)

New Covenant Trust Company N.A. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,329 shares of the company’s stock after selling 245 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Johnson & Johnson were worth $545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson in the 4th quarter worth $29,000. Conquis Financial LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the 4th quarter valued at about $36,000. Finally, Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after purchasing an additional 86 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research reports. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Royal Bank Of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 5th. Raymond James Financial cut their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Finally, Barclays reduced their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Trading Up 0.1%

Shares of JNJ stock opened at $152.33 on Thursday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a market cap of $366.52 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. The stock has a 50 day simple moving average of $153.95 and a 200-day simple moving average of $153.67.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. On average, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.41%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson’s payout ratio is presently 57.84%.

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.