Lynch & Associates IN Sells 3,604 Shares of Johnson & Johnson (NYSE:JNJ)

Lynch & Associates IN cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,158 shares of the company’s stock after selling 3,604 shares during the quarter. Johnson & Johnson comprises 3.3% of Lynch & Associates IN’s investment portfolio, making the stock its 5th biggest position. Lynch & Associates IN’s holdings in Johnson & Johnson were worth $14,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $4,071,642,000. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after purchasing an additional 241,799 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JNJ shares. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Thursday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $147.77 on Friday. The company has a 50-day simple moving average of $148.02 and a 200-day simple moving average of $154.45. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $355.64 billion, a PE ratio of 9.21, a P/E/G ratio of 2.42 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 EPS. Equities research analysts predict that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.36%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.