Johnson & Johnson (NYSE:JNJ) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,857 shares of the company’s stock after selling 2,412 shares during the period. Johnson & Johnson comprises approximately 1.6% of Carret Asset Management LLC’s holdings, making the stock its 9th largest holding. Carret Asset Management LLC’s holdings in Johnson & Johnson were worth $13,424,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in JNJ. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp grew its stake in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth $44,000. Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its holdings in shares of Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JNJ. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Monday, June 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Morgan Stanley reduced their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $145.69 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $147.96 and a 200-day moving average of $153.85. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The firm has a market cap of $350.63 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52.

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, beating the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.