First PREMIER Bank Lowers Stake in Johnson & Johnson (NYSE:JNJ)

First PREMIER Bank lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,874 shares of the company’s stock after selling 1,777 shares during the quarter. Johnson & Johnson makes up approximately 1.8% of First PREMIER Bank’s holdings, making the stock its 11th biggest holding. First PREMIER Bank’s holdings in Johnson & Johnson were worth $6,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lane & Associates LLC increased its stake in Johnson & Johnson by 45.2% during the first quarter. Lane & Associates LLC now owns 4,140 shares of the company’s stock worth $655,000 after acquiring an additional 1,289 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $121,000. Steph & Co. lifted its position in Johnson & Johnson by 23.7% during the first quarter. Steph & Co. now owns 5,343 shares of the company’s stock valued at $845,000 after buying an additional 1,023 shares in the last quarter. Westend Capital Management LLC purchased a new position in shares of Johnson & Johnson in the 1st quarter valued at $226,000. Finally, Cherrydale Wealth Management LLC acquired a new stake in Johnson & Johnson in the 1st quarter valued at $277,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ traded up $0.10 during trading on Monday, hitting $148.85. 2,486,796 shares of the company traded hands, compared to its average volume of 7,395,934. 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 stock has a market capitalization of $358.23 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 2.46 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The business’s fifty day moving average is $148.05 and its 200-day moving average is $154.33.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 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 analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.68 earnings per share. As a group, equities analysts predict that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Morgan Stanley dropped 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 research note on Wednesday, April 17th. The Goldman Sachs Group began coverage on Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Thursday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.