VeraBank N.A. Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

VeraBank N.A. trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,816 shares of the company’s stock after selling 89 shares during the period. VeraBank N.A.’s holdings in Johnson & Johnson were worth $2,291,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of JNJ. Lantz Financial LLC grew its stake in Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock worth $1,986,000 after acquiring an additional 377 shares during the period. Sulzberger Capital Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $453,000. Joel Isaacson & Co. LLC grew its stake in Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock worth $12,294,000 after acquiring an additional 2,526 shares during the period. State of Wyoming grew its stake in Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company’s stock worth $1,487,000 after acquiring an additional 10,279 shares during the period. Finally, Range Financial Group LLC grew its stake in Johnson & Johnson by 18.9% in the 1st quarter. Range Financial Group LLC now owns 15,886 shares of the company’s stock worth $2,635,000 after acquiring an additional 2,529 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $170.72 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $411.14 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.17 and a beta of 0.41. The firm’s fifty day simple moving average is $158.53 and its 200 day simple moving average is $157.10. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $172.18.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.82 EPS. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.0%. Johnson & Johnson’s payout ratio is currently 55.61%.

Analyst Ratings Changes

JNJ has been the subject of several recent analyst reports. Leerink Partners cut shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Barclays lifted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Raymond James Financial decreased their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Leerink Partnrs lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $174.50.

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.