CRA Financial Services LLC Lowers Stake in Johnson & Johnson (NYSE:JNJ)

CRA Financial Services LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.8% in the first quarter, Holdings Channel.com reports. The fund owned 10,692 shares of the company’s stock after selling 191 shares during the quarter. CRA Financial Services LLC’s holdings in Johnson & Johnson were worth $1,691,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP boosted its position in shares of Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after buying an additional 3,391,657 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after buying an additional 241,799 shares during the period. California Public Employees Retirement System boosted its position in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after buying an additional 498,647 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock worth $1,593,908,000 after buying an additional 975,485 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.2 %

Shares of NYSE JNJ opened at $146.16 on Monday. The stock’s 50 day moving average price is $148.14 and its two-hundred day moving average price is $154.05. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The stock has a market capitalization of $351.76 billion, a P/E ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The business 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 business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. On average, analysts anticipate 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. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on JNJ. Bank of America decreased their target price 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. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Thursday, June 20th. Finally, The Goldman Sachs Group assumed coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.