Monterey Private Wealth Inc. Sells 464 Shares of Johnson & Johnson (NYSE:JNJ)

Monterey Private Wealth Inc. reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 12.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,340 shares of the company’s stock after selling 464 shares during the period. Monterey Private Wealth Inc.’s holdings in Johnson & Johnson were worth $528,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its position in Johnson & Johnson by 3.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 236,484 shares of the company’s stock valued at $37,409,000 after acquiring an additional 8,239 shares during the last quarter. Rise Advisors LLC grew its holdings in shares of Johnson & Johnson by 62.9% in the first quarter. Rise Advisors LLC now owns 2,944 shares of the company’s stock worth $466,000 after purchasing an additional 1,137 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Johnson & Johnson by 0.4% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 568,708 shares of the company’s stock worth $89,964,000 after purchasing an additional 2,095 shares during the last quarter. CJM Wealth Advisers Ltd. grew its holdings in shares of Johnson & Johnson by 8.4% in the first quarter. CJM Wealth Advisers Ltd. now owns 3,797 shares of the company’s stock worth $601,000 after purchasing an additional 294 shares during the last quarter. Finally, Great Waters Wealth Management grew its holdings in shares of Johnson & Johnson by 4.4% in the first quarter. Great Waters Wealth Management now owns 1,702 shares of the company’s stock worth $269,000 after purchasing an additional 72 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on JNJ. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Monday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Price Performance

JNJ opened at $147.77 on Friday. The stock has a 50-day moving average price of $148.02 and a 200-day moving average price of $154.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The firm has a market cap 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 1 year low of $143.13 and a 1 year high of $175.97.

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

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s payout ratio is currently 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.