Kaydan Wealth Management Inc. Has $653,000 Stake in Johnson & Johnson (NYSE:JNJ)

Kaydan Wealth Management Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 3.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,939 shares of the company’s stock after selling 138 shares during the period. Kaydan Wealth Management Inc.’s holdings in Johnson & Johnson were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. MRP Capital Investments LLC boosted its stake in Johnson & Johnson by 4.1% during the fourth quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock valued at $237,000 after buying an additional 65 shares during the period. Syverson Strege & Co raised its holdings 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 valued at $202,000 after acquiring an additional 65 shares in the last quarter. Werba Rubin Papier Wealth Management boosted its position in shares of Johnson & Johnson by 3.3% during the 4th quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after acquiring an additional 66 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Johnson & Johnson by 1.3% during 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 in the last quarter. Finally, Sage Mountain Advisors LLC increased its position in shares of Johnson & Johnson by 0.5% in the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several research analyst reports. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Barclays lowered their price objective 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. Raymond James Financial dropped their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Down 1.8%

JNJ opened at $152.38 on Wednesday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $154.03 and its 200-day moving average price is $153.69. The company 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.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $21.65 billion. On average, equities 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. Investors of record on Tuesday, May 27th were issued a dividend of $1.30 per share. 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 yield of 3.41%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Johnson & Johnson 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.