Donaldson Capital Management LLC Sells 18,715 Shares of Johnson & Johnson (NYSE:JNJ)

Donaldson Capital Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 30.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WealthTrak Capital Management LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson during the 4th quarter worth $29,000. Conquis Financial LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $38,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Barclays cut their target price on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. 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. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $155.19 on Thursday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. 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 company 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 firm’s 50-day moving average is $153.56 and its two-hundred day moving average is $153.70.

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

Johnson & Johnson Increases Dividend

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