Saxon Interests Inc. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Saxon Interests Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 29.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,934 shares of the company’s stock after selling 2,442 shares during the period. Saxon Interests Inc.’s holdings in Johnson & Johnson were worth $939,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Johnson & Johnson during the 4th quarter valued at about $4,071,642,000. Wellington Management Group LLP grew its stake 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 valued at $3,764,852,000 after buying an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Johnson & Johnson by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after buying an additional 241,799 shares during the period. California Public Employees Retirement System grew its stake in shares of Johnson & Johnson by 4.9% in the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after buying an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Johnson & Johnson by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after buying an additional 975,485 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $145.62 on Thursday. The firm has a market cap of $350.46 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $148.02 and its two-hundred day moving average is $153.91.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping 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 company 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 business earned $2.68 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders 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 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 3.41%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

Several analysts have recently weighed in on JNJ shares. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Bank of America decreased their price objective 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. Morgan Stanley decreased their price objective 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Monday, June 17th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Company 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.