Johnson & Johnson (NYSE:JNJ) Position Reduced by Exchange Bank

Exchange Bank lessened its stake in Johnson & Johnson (NYSE:JNJ) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,379 shares of the company’s stock after selling 371 shares during the period. Johnson & Johnson comprises approximately 3.4% of Exchange Bank’s investment portfolio, making the stock its 3rd largest holding. Exchange Bank’s holdings in Johnson & Johnson were worth $4,209,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Johnson & Johnson by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. Geode Capital Management LLC raised its stake in Johnson & Johnson by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock valued at $8,321,881,000 after purchasing an additional 1,561,036 shares during the last quarter. Northern Trust Corp increased its stake in shares of Johnson & Johnson by 12.3% in the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after acquiring an additional 3,363,235 shares during the last quarter. Norges Bank acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth $4,390,037,000. Finally, Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after acquiring an additional 431,205 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.19 on Thursday. The stock has a 50-day simple moving average of $153.56 and a 200-day simple moving average of $153.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The stock has a market capitalization of $373.41 billion, a PE ratio of 23.34, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

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

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. 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 (DPR) is presently 57.84%.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Raymond James cut their price objective on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Leerink Partners downgraded Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target 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.