Johnson & Johnson (NYSE:JNJ) Position Trimmed by Baker Boyer National Bank

Baker Boyer National Bank lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,124 shares of the company’s stock after selling 260 shares during the quarter. Johnson & Johnson makes up 0.6% of Baker Boyer National Bank’s investment portfolio, making the stock its 19th largest holding. Baker Boyer National Bank’s holdings in Johnson & Johnson were worth $1,602,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Pathway Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after buying an additional 226 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Johnson & Johnson by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC lifted its holdings in Johnson & Johnson by 82.8% in the 4th quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,457 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its holdings in Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after purchasing an additional 2,201 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new stake in Johnson & Johnson in the 4th quarter worth approximately $1,458,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on JNJ. Morgan Stanley reduced their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. The Goldman Sachs Group began coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Thursday. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Hold” and a consensus price target of $174.07.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $0.85 during trading hours on Monday, hitting $149.60. 2,010,320 shares of the company’s stock were exchanged, compared to its average volume of 7,391,963. The stock’s 50-day moving average is $148.05 and its 200-day moving average is $154.33. 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 stock has a market cap of $360.04 billion, a price-to-earnings 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.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share 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 firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed 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. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is 30.92%.

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.