Donaldson Capital Management LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Donaldson Capital Management LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 30.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 41,818 shares of the company’s stock after selling 18,715 shares during the period. Donaldson Capital Management LLC’s holdings in Johnson & Johnson were worth $6,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. MRP Capital Investments LLC raised its holdings in shares of Johnson & Johnson by 4.1% in the 4th quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock worth $237,000 after purchasing an additional 65 shares during the period. Syverson Strege & Co increased its position in shares of Johnson & Johnson by 4.9% in the 4th quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock worth $202,000 after purchasing an additional 65 shares during the last quarter. Werba Rubin Papier Wealth Management lifted its holdings in Johnson & Johnson by 3.3% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock worth $301,000 after buying an additional 66 shares during the last quarter. Denali Advisors LLC boosted its holdings in Johnson & Johnson by 1.3% in the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock worth $742,000 after purchasing an additional 67 shares during the period. Finally, Sage Mountain Advisors LLC boosted its holdings in shares of Johnson & Johnson by 0.5% in the 4th quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock valued at $2,106,000 after buying an additional 67 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $169.00 to $153.00 in a research note on Tuesday, May 13th. Barclays decreased their price target on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Raymond James decreased their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.19 on Thursday. The company has a 50-day simple moving average of $153.56 and a two-hundred day simple moving average of $153.70. The firm has a market capitalization of $373.41 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.

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

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.35%. Johnson & Johnson’s dividend payout ratio (DPR) is 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.