Tufton Capital Management cut its holdings in Johnson & Johnson (NYSE:JNJ – Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 58,945 shares of the company’s stock after selling 2,276 shares during the quarter. Johnson & Johnson comprises approximately 2.0% of Tufton Capital Management’s portfolio, making the stock its 17th largest holding. Tufton Capital Management’s holdings in Johnson & Johnson were worth $9,136,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Glassy Mountain Advisors Inc. acquired a new position in Johnson & Johnson in the fourth quarter valued at $35,000. GW&K Investment Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $35,000. Dark Forest Capital Management LP increased its stake in shares of Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock worth $36,000 after acquiring an additional 188 shares during the period. Retirement Financial Solutions LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $40,000. Finally, Ruedi Wealth Management Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $42,000. 67.57% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Stock Down 0.7 %
Shares of NYSE JNJ opened at $161.60 on Friday. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The company has a market capitalization of $419.95 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 2.79 and a beta of 0.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.07 and a quick ratio of 0.85. The firm’s 50-day moving average is $160.72 and its two-hundred day moving average is $162.73.
Johnson & Johnson Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 23rd were paid a dividend of $1.19 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.13. The ex-dividend date was Monday, May 22nd. This represents a $4.76 annualized dividend and a dividend yield of 2.95%. Johnson & Johnson’s dividend payout ratio is presently 99.58%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the stock. Raymond James dropped their price target on shares of Johnson & Johnson from $185.00 to $181.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 19th. StockNews.com started coverage on shares of Johnson & Johnson in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Citigroup started coverage on shares of Johnson & Johnson in a research report on Tuesday, May 30th. They set a “buy” rating and a $185.00 target price on the stock. Morgan Stanley upped their target price on shares of Johnson & Johnson from $179.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Finally, Credit Suisse Group upped their target price on shares of Johnson & Johnson from $168.00 to $170.00 in a research report on Friday, May 5th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $171.57.
Insider Activity at Johnson & Johnson
In related news, EVP Kathryn E. Wengel sold 12,465 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares of the company’s stock, valued at $10,549,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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