Johnson & Johnson (NYSE:JNJ) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. cut its stake in Johnson & Johnson (NYSE:JNJ) by 19.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,913 shares of the company’s stock after selling 4,635 shares during the period. Hodges Capital Management Inc.’s holdings in Johnson & Johnson were worth $2,993,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Johnson & Johnson in the fourth quarter valued at $4,071,642,000. Wellington Management Group LLP raised its holdings in 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 acquiring an additional 3,391,657 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 acquiring an additional 241,799 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after purchasing an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Johnson & Johnson by 10.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after purchasing an additional 975,485 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $146.16 on Friday. The firm has a 50-day moving average price of $148.14 and a 200 day moving average price of $154.06. The firm has a market capitalization of $351.76 billion, a PE ratio of 9.11, a P/E/G ratio of 2.43 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. 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 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. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. 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 prior year, the firm posted $2.68 EPS. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.62 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. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.39%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JNJ. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Thursday, June 20th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, 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 objective on the stock. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.