Steele Capital Management Inc. Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Steele Capital Management Inc. trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 15.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,643 shares of the company’s stock after selling 300 shares during the period. Steele Capital Management Inc.’s holdings in Johnson & Johnson were worth $260,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Stewart & Patten Co. LLC raised its stake in shares of Johnson & Johnson by 1.5% during the first quarter. Stewart & Patten Co. LLC now owns 180,560 shares of the company’s stock valued at $28,563,000 after acquiring an additional 2,658 shares during the last quarter. Dominguez Wealth Management Solutions Inc. raised its stake in Johnson & Johnson by 1.0% in the first quarter. Dominguez Wealth Management Solutions Inc. now owns 23,936 shares of the company’s stock worth $3,786,000 after buying an additional 237 shares in the last quarter. Consilio Wealth Advisors LLC raised its stake in Johnson & Johnson by 5.6% in the first quarter. Consilio Wealth Advisors LLC now owns 1,885 shares of the company’s stock worth $298,000 after buying an additional 100 shares in the last quarter. Park Place Capital Corp increased its stake in shares of Johnson & Johnson by 63.5% during the first quarter. Park Place Capital Corp now owns 3,526 shares of the company’s stock valued at $558,000 after purchasing an additional 1,369 shares in the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of Johnson & Johnson by 7.1% during the first quarter. Claro Advisors LLC now owns 23,379 shares of the company’s stock valued at $3,698,000 after buying an additional 1,545 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $146.03 on Wednesday. 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 $351.45 billion, a P/E ratio of 9.10, a PEG ratio of 2.43 and a beta of 0.52. The firm has a fifty day simple moving average of $148.09 and a two-hundred day simple moving average of $153.97. 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 issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the company posted $2.68 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Johnson & Johnson will post 10.62 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. Investors of record on Tuesday, May 21st were paid a dividend of $1.24 per share. 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. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. Johnson & Johnson’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

JNJ has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $174.07.

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.