First National Bank of Mount Dora Trust Investment Services Sells 18,345 Shares of Johnson & Johnson (NYSE:JNJ)

First National Bank of Mount Dora Trust Investment Services cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 59.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,684 shares of the company’s stock after selling 18,345 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in Johnson & Johnson were worth $2,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $4,390,037,000. Raymond James Financial Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth $1,339,878,000. GAMMA Investing LLC grew its stake in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock worth $1,196,596,000 after acquiring an additional 7,185,977 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock worth $1,149,536,000 after acquiring an additional 4,559,147 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JNJ. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Barclays lowered their target price on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Finally, Morgan Stanley increased their target price on Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $170.88.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $156.45 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $153.52 and a two-hundred day simple moving average of $153.69. The stock has a market cap of $376.43 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. On average, analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.