Bell Bank Sells 166 Shares of Johnson & Johnson (NYSE:JNJ)

Bell Bank cut its position in Johnson & Johnson (NYSE:JNJ) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,228 shares of the company’s stock after selling 166 shares during the quarter. Bell Bank’s holdings in Johnson & Johnson were worth $701,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. PKO Investment Management Joint Stock Co raised its position in shares of Johnson & Johnson by 2.1% in the first quarter. PKO Investment Management Joint Stock Co now owns 24,500 shares of the company’s stock valued at $4,063,000 after purchasing an additional 500 shares during the period. Insigneo Advisory Services LLC raised its holdings in Johnson & Johnson by 6.1% during the 1st quarter. Insigneo Advisory Services LLC now owns 21,661 shares of the company’s stock valued at $3,592,000 after acquiring an additional 1,244 shares during the period. Lesa Sroufe & Co purchased a new stake in shares of Johnson & Johnson during the first quarter worth $594,000. Cardinal Capital Management boosted its holdings in shares of Johnson & Johnson by 9.2% in the first quarter. Cardinal Capital Management now owns 113,144 shares of the company’s stock worth $18,764,000 after acquiring an additional 9,577 shares during the period. Finally, Berkshire Bank grew its position in shares of Johnson & Johnson by 2.4% in the first quarter. Berkshire Bank now owns 25,377 shares of the company’s stock valued at $4,209,000 after purchasing an additional 597 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $152.38 on Wednesday. The company has a market capitalization of $366.65 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.35 and a beta of 0.42. The business has a 50 day moving average of $154.03 and a 200 day moving average of $153.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03. 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 for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. On average, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared 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. This represents a $5.20 annualized dividend and a yield of 3.41%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Wall Street Zen downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday, April 16th. Eleven research 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 stock. Based on data from MarketBeat, the company presently 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.