Johnson & Johnson (NYSE:JNJ) Stock Position Lessened by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 15.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,076 shares of the company’s stock after selling 2,362 shares during the quarter. Johnson & Johnson comprises about 1.0% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 16th biggest holding. Handelsinvest Investeringsforvaltning’s holdings in Johnson & Johnson were worth $2,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp increased its position in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. raised its holdings in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Bank of America cut their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Trading Down 0.2 %

NYSE JNJ opened at $145.69 on Friday. 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 company has a market capitalization of $350.63 billion, a PE ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.52. The stock has a 50-day simple moving average of $147.96 and a 200 day simple moving average of $153.85.

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. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same period last year, the firm posted $2.68 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts forecast that Johnson & Johnson will post 10.62 EPS for the current 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 issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend 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.