Cornell Pochily Investment Advisors Inc. Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cornell Pochily Investment Advisors Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,702 shares of the company’s stock after selling 330 shares during the period. Johnson & Johnson makes up 1.1% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its 19th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Johnson & Johnson were worth $3,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Johnson & Johnson by 99.2% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 52,629 shares of the company’s stock valued at $8,728,000 after purchasing an additional 26,203 shares during the last quarter. Prentice Wealth Management LLC increased its holdings in Johnson & Johnson by 2.0% during the first quarter. Prentice Wealth Management LLC now owns 5,701 shares of the company’s stock valued at $945,000 after buying an additional 114 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its holdings in Johnson & Johnson by 3.4% during the first quarter. Foster Victor Wealth Advisors LLC now owns 84,564 shares of the company’s stock valued at $12,831,000 after buying an additional 2,798 shares during the last quarter. Aries Wealth Management increased its holdings in Johnson & Johnson by 3.5% during the first quarter. Aries Wealth Management now owns 29,368 shares of the company’s stock valued at $4,870,000 after buying an additional 987 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Johnson & Johnson by 29.2% during the first quarter. Ritholtz Wealth Management now owns 74,799 shares of the company’s stock valued at $12,405,000 after buying an additional 16,891 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $156.90 on Monday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. 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 firm has a fifty day moving average price of $153.84 and a 200 day moving average price of $153.70. The firm has a market cap of $377.52 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.31%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is 57.84%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research reports. Leerink Partnrs cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Bank of America dropped their price target on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Wall Street Zen lowered shares of 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 given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.