Bell Bank Sells 166 Shares of Johnson & Johnson (NYSE:JNJ)

Bell Bank reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,228 shares of the company’s stock after selling 166 shares during the quarter. Bell Bank’s holdings in Johnson & Johnson were worth $701,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Johnson & Johnson during the 4th quarter valued at about $29,000. Conquis Financial LLC bought a new position in Johnson & Johnson during the 4th quarter valued at approximately $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $36,000. Finally, Highline Wealth Partners LLC lifted its holdings in Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after buying an additional 86 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $152.38 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a market cap of $366.65 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.35 and a beta of 0.42. The business’s 50 day moving average price is $154.03 and its 200-day moving average price is $153.69. 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 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 3.41%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is 57.84%.

Analyst Ratings Changes

JNJ has been the subject of a number of recent analyst reports. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 5th. Raymond James Financial cut their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Barclays reduced 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. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $170.88.

About Johnson & Johnson

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.