Arvest Investments Inc. Lowers Position in Johnson & Johnson (NYSE:JNJ)

Arvest Investments Inc. cut its position in Johnson & Johnson (NYSE:JNJ) by 3.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,824 shares of the company’s stock after selling 483 shares during the quarter. Arvest Investments Inc.’s holdings in Johnson & Johnson were worth $2,458,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares in the last quarter. Geode Capital Management LLC raised its holdings in Johnson & Johnson by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares in the last quarter. Northern Trust Corp raised its holdings in Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Norges Bank acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at about $4,390,037,000. Finally, Wellington Management Group LLP increased its holdings in shares of Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock valued at $3,522,447,000 after acquiring an additional 431,205 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Down 0.8%

Shares of NYSE:JNJ opened at $155.19 on Thursday. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The firm has a market capitalization of $373.41 billion, a price-to-earnings 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. The business’s 50 day moving average price is $153.56 and its 200-day moving average price is $153.70.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $21.65 billion. On average, equities research analysts forecast 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 paid a $1.30 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on JNJ. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Bank of America cut their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Raymond James cut their price objective on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently 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.