Spring Capital Management LLC Sells 2,071 Shares of Johnson & Johnson (NYSE:JNJ)

Spring Capital Management LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 38,787 shares of the company’s stock after selling 2,071 shares during the quarter. Johnson & Johnson accounts for 4.6% of Spring Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Spring Capital Management LLC’s holdings in Johnson & Johnson were worth $6,136,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. 4J Wealth Management LLC grew its position in Johnson & Johnson by 2.2% during the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after acquiring an additional 62 shares during the last quarter. My Personal CFO LLC raised its position in Johnson & Johnson by 1.4% during the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after purchasing an additional 62 shares during the last quarter. Eagle Strategies LLC grew its position in shares of Johnson & Johnson by 1.8% in the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares during the last quarter. Clearview Wealth Advisors LLC raised its holdings in shares of Johnson & Johnson by 1.5% during the fourth quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after acquiring an additional 64 shares in the last quarter. Finally, Brookmont Capital Management lifted its stake in Johnson & Johnson by 0.4% in the fourth quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after acquiring an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday. Morgan Stanley reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Thursday. Finally, Bank of America lowered their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Stock Up 0.7 %

Shares of Johnson & Johnson stock opened at $148.75 on Friday. The company has a 50-day simple moving average of $148.05 and a two-hundred day simple moving average of $154.35. The stock has a market capitalization of $357.99 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. 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 released its quarterly earnings data 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. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the prior year, the firm posted $2.68 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that Johnson & Johnson will post 10.63 EPS 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 of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a yield of 3.33%. Johnson & Johnson’s payout ratio is 30.92%.

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.