Johnson & Johnson (NYSE:JNJ) Shares Sold by Sterling Investment Management LLC

Sterling Investment Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,095 shares of the company’s stock after selling 326 shares during the period. Johnson & Johnson comprises about 1.5% of Sterling Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. Sterling Investment Management LLC’s holdings in Johnson & Johnson were worth $2,172,000 at the end of the most recent quarter.

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

Johnson & Johnson Stock Down 0.8%

Shares of Johnson & Johnson stock opened at $155.19 on Thursday. The firm has a market cap of $373.41 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.56 and a beta of 0.42. The stock has a 50-day simple moving average of $153.56 and a 200-day simple moving average of $153.70. Johnson & Johnson has a 52-week low of $140.68 and a 52-week 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.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly 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 return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $21.89 billion during the quarter, compared to analysts’ expectations of $21.65 billion. On average, equities 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 disclosed 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 an increase 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 of this dividend was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Analyst Ratings Changes

Several brokerages have commented on JNJ. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a research note on Thursday, June 5th. Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Leerink Partnrs lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Bank of America dropped their target price on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Eleven investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.