Cypress Wealth Services LLC Sells 663 Shares of Johnson & Johnson (NYSE:JNJ)

Cypress Wealth Services LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,918 shares of the company’s stock after selling 663 shares during the quarter. Cypress Wealth Services LLC’s holdings in Johnson & Johnson were worth $1,094,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $4,071,642,000. Wellington Management Group LLP raised its holdings in shares of Johnson & Johnson by 16.4% in the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Johnson & Johnson by 7,875.8% in the 4th quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock worth $327,647,000 after purchasing an additional 2,064,175 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $193,050,000. Finally, Global Assets Advisory LLC purchased a new position in Johnson & Johnson in the 1st quarter valued at approximately $170,372,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE:JNJ opened at $146.16 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The firm has a fifty day moving average of $148.14 and a 200 day moving average of $154.07. The firm has a market capitalization of $351.76 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 2.44 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJ) last announced 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 company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.39%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JNJ. Bank of America reduced 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. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Thursday, June 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.07.

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.