Bridge Creek Capital Management LLC Sells 270 Shares of Johnson & Johnson (NYSE:JNJ)

Bridge Creek Capital Management LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,277 shares of the company’s stock after selling 270 shares during the quarter. Johnson & Johnson comprises 1.9% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Bridge Creek Capital Management LLC’s holdings in Johnson & Johnson were worth $6,016,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of JNJ. Norges Bank acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $4,390,037,000. Raymond James Financial Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $1,339,878,000. GAMMA Investing LLC raised its stake in shares of Johnson & Johnson by 24,450.4% in the first quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after purchasing an additional 7,185,977 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Johnson & Johnson by 134.5% in the fourth quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock valued at $1,149,536,000 after purchasing an additional 4,559,147 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.37 on Tuesday. The business’s 50-day simple moving average is $154.19 and its 200 day simple moving average is $153.67. The stock has a market cap of $373.83 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be issued a $1.30 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.35%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Morgan Stanley increased their price objective on Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 16th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Eleven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target 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.