Westside Investment Management Inc. Sells 491 Shares of Johnson & Johnson (NYSE:JNJ)

Westside Investment Management Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 10.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,194 shares of the company’s stock after selling 491 shares during the period. Westside Investment Management Inc.’s holdings in Johnson & Johnson were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Keener Financial Planning LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at $40,000. WFA Asset Management Corp lifted its holdings in Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at $44,000. Disciplined Equity Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. increased its stake 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 purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.2 %

Shares of JNJ stock opened at $145.69 on Friday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The company has a 50-day simple moving average of $147.96 and a two-hundred day simple moving average of $153.85. The company has a market capitalization of $350.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.42 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (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 the consensus estimate of $21.39 billion. During the same period in the prior year, the firm posted $2.68 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. This is an increase 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

JNJ has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Bank of America decreased their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. Finally, Morgan Stanley decreased their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.