TrueMark Investments LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

TrueMark Investments LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,139 shares of the company’s stock after selling 164 shares during the period. TrueMark Investments LLC’s holdings in Johnson & Johnson were worth $1,446,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Private Advisory Group LLC raised its stake in Johnson & Johnson by 11.8% in the third quarter. Private Advisory Group LLC now owns 2,576 shares of the company’s stock valued at $401,000 after buying an additional 271 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its position in shares of Johnson & Johnson by 21.8% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 496,621 shares of the company’s stock valued at $77,349,000 after purchasing an additional 88,912 shares during the last quarter. Nomura Holdings Inc. boosted its stake in Johnson & Johnson by 39.3% in the 3rd quarter. Nomura Holdings Inc. now owns 41,139 shares of the company’s stock worth $6,407,000 after purchasing an additional 11,605 shares in the last quarter. Cape Cod Five Cents Savings Bank grew its position in Johnson & Johnson by 98.1% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 160,604 shares of the company’s stock worth $25,014,000 after purchasing an additional 79,543 shares during the last quarter. Finally, Ascent Group LLC increased its stake in Johnson & Johnson by 49.5% during the 3rd quarter. Ascent Group LLC now owns 44,640 shares of the company’s stock valued at $6,581,000 after purchasing an additional 14,786 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research analyst reports. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 22nd. Morgan Stanley reduced their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. Finally, Bank of America decreased their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the 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

JNJ opened at $146.81 on Thursday. The stock has a market cap of $353.32 billion, a P/E ratio of 9.15, a P/E/G ratio of 2.45 and a beta of 0.53. 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 fifty day moving average price of $148.13 and a 200 day moving average price of $154.24. 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 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 net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period in the prior year, the company posted $2.68 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts anticipate that Johnson & Johnson will post 10.63 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This is a boost 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 3.38%. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson Profile

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.