Geneva Partners LLC cut its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,674 shares of the company’s stock after selling 170 shares during the period. Geneva Partners LLC’s holdings in Johnson & Johnson were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of JNJ. Sugarloaf Wealth Management LLC raised its stake in shares of Johnson & Johnson by 5.2% during the first quarter. Sugarloaf Wealth Management LLC now owns 6,118 shares of the company’s stock worth $948,000 after buying an additional 305 shares during the last quarter. Pinnacle Wealth Management Group Inc. raised its stake in shares of Johnson & Johnson by 9.4% during the first quarter. Pinnacle Wealth Management Group Inc. now owns 10,295 shares of the company’s stock worth $1,825,000 after buying an additional 885 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of Johnson & Johnson by 4.7% during the first quarter. Employees Retirement System of Texas now owns 517,862 shares of the company’s stock worth $80,269,000 after buying an additional 23,360 shares during the last quarter. Compton Wealth Advisory Group LLC raised its stake in shares of Johnson & Johnson by 16.5% during the first quarter. Compton Wealth Advisory Group LLC now owns 11,020 shares of the company’s stock worth $1,708,000 after buying an additional 1,557 shares during the last quarter. Finally, Concord Wealth Partners raised its stake in shares of Johnson & Johnson by 56.0% during the first quarter. Concord Wealth Partners now owns 13,039 shares of the company’s stock worth $2,021,000 after buying an additional 4,679 shares during the last quarter. 67.57% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have commented on JNJ shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $187.00 target price on shares of Johnson & Johnson in a research note on Friday. Credit Suisse Group upped their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday. Atlantic Securities lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. UBS Group started coverage on shares of Johnson & Johnson in a research note on Tuesday, March 28th. They issued a “neutral” rating and a $164.00 target price for the company. Finally, TheStreet downgraded shares of Johnson & Johnson from a “b” rating to a “c+” rating in a research note on Friday, May 19th. Eight equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Hold” and a consensus price target of $171.40.
Johnson & Johnson Stock Performance
Johnson & Johnson (NYSE:JNJ – Get Free Report) last announced its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.22% and a return on equity of 36.13%. The business had revenue of $25.53 billion during the quarter, compared to analysts’ expectations of $24.63 billion. During the same quarter in the prior year, the company posted $2.59 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Research analysts forecast that Johnson & Johnson will post 10.65 EPS for the current fiscal year.
Johnson & Johnson Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, August 25th. Johnson & Johnson’s dividend payout ratio is currently 99.58%.
Insider Buying and Selling at Johnson & Johnson
In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $160.00, for a total value of $1,994,400.00. Following the completion of the sale, the executive vice president now owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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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