Pines Wealth Management LLC Sells 373 Shares of Johnson & Johnson (NYSE:JNJ)

Pines Wealth Management LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 11.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,982 shares of the company’s stock after selling 373 shares during the period. Pines Wealth Management LLC’s holdings in Johnson & Johnson were worth $495,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC raised its holdings in Johnson & Johnson by 4.1% in the 4th quarter. MRP Capital Investments LLC now owns 1,640 shares of the company’s stock valued at $237,000 after acquiring an additional 65 shares in the last quarter. Syverson Strege & Co increased its position in shares of Johnson & Johnson by 4.9% during the fourth quarter. Syverson Strege & Co now owns 1,394 shares of the company’s stock valued at $202,000 after purchasing an additional 65 shares during the period. Werba Rubin Papier Wealth Management raised its stake in shares of Johnson & Johnson by 3.3% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after purchasing an additional 66 shares in the last quarter. Denali Advisors LLC lifted its position 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 stake in Johnson & Johnson by 0.5% during the fourth quarter. Sage Mountain Advisors LLC now owns 14,564 shares of the company’s stock worth $2,106,000 after buying an additional 67 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE JNJ opened at $155.02 on Friday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The firm’s 50-day simple moving average is $153.59 and its 200 day simple moving average is $153.68. 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 company has a market cap of $372.99 billion, a price-to-earnings ratio of 23.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 57.84%.

Analysts Set New Price Targets

A number of research firms have recently commented on JNJ. Bank of America reduced their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price objective on shares of Johnson & Johnson in a research note on Thursday. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $170.88.

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.