Sunbelt Securities Inc. Sells 2,015 Shares of Johnson & Johnson (NYSE:JNJ)

Sunbelt Securities Inc. trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 5.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,924 shares of the company’s stock after selling 2,015 shares during the quarter. Sunbelt Securities Inc.’s holdings in Johnson & Johnson were worth $5,050,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at $40,000. WFA Asset Management Corp lifted its holdings in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at $44,000. Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its holdings in Johnson & Johnson by 528.6% in 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 owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on JNJ. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Thursday, June 20th. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. The Goldman Sachs Group began coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Morgan Stanley lowered 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $174.07.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $146.81 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The stock has a 50-day moving average price of $148.13 and a 200 day moving average price of $154.24. The stock has a market capitalization of $353.32 billion, a P/E ratio of 9.15, a P/E/G ratio of 2.45 and a beta of 0.53.

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 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 during the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the business posted $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that Johnson & Johnson will post 10.63 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.38%. 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 dividend payout ratio (DPR) is currently 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.