McLean Asset Management Corp Sells 616 Shares of Johnson & Johnson (NYSE:JNJ)

McLean Asset Management Corp cut its position in shares of Johnson & Johnson (NYSE:JNJFree Report) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,322 shares of the company’s stock after selling 616 shares during the period. McLean Asset Management Corp’s holdings in Johnson & Johnson were worth $506,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp boosted its position in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $44,000. Disciplined Equity Management Inc. purchased a new stake in Johnson & Johnson in the 4th quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JNJ has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Thursday. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America lowered their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $174.07.

Get Our Latest Stock Analysis on Johnson & Johnson

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded up $0.96 during mid-day trading on Friday, reaching $148.74. 15,176,565 shares of the company traded hands, compared to its average volume of 7,436,943. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a market capitalization of $357.97 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53. The firm’s fifty day moving average is $148.05 and its two-hundred day moving average is $154.38.

Johnson & Johnson (NYSE:JNJGet Free Report) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.68 earnings per share. On average, equities research analysts expect that Johnson & Johnson will post 10.63 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 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.33%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

See Also

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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