Hexagon Capital Partners LLC Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Hexagon Capital Partners LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,518 shares of the company’s stock after selling 83 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Johnson & Johnson were worth $873,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in JNJ. Norges Bank bought a new position in shares of Johnson & Johnson in the fourth quarter worth 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 worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Johnson & Johnson by 7,875.8% in the fourth 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 last quarter. Janney Montgomery Scott LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth approximately $193,050,000. Finally, Global Assets Advisory LLC bought a new position in shares of Johnson & Johnson in the first quarter worth approximately $170,372,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $146.03 on Wednesday. The stock has a 50-day moving average price of $148.09 and a 200-day moving average price of $153.97. 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 $351.45 billion, a PE ratio of 9.10, a P/E/G ratio of 2.43 and a beta of 0.52. 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. The firm had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. Sell-side analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. 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 dividend on an annualized basis and a yield of 3.40%. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JNJ. 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, June 17th. 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. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. 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, Morgan Stanley cut their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.