City Holding Co. Decreases Stake in Johnson & Johnson (NYSE:JNJ)

City Holding Co. lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,143 shares of the company’s stock after selling 868 shares during the quarter. City Holding Co.’s holdings in Johnson & Johnson were worth $3,672,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Daymark Wealth Partners LLC increased its position in Johnson & Johnson by 1.1% during the first quarter. Daymark Wealth Partners LLC now owns 313,573 shares of the company’s stock valued at $52,003,000 after acquiring an additional 3,541 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Johnson & Johnson by 0.5% during the first quarter. CHICAGO TRUST Co NA now owns 17,890 shares of the company’s stock valued at $2,967,000 after acquiring an additional 93 shares during the last quarter. Range Financial Group LLC increased its position in Johnson & Johnson by 18.9% during the first quarter. Range Financial Group LLC now owns 15,886 shares of the company’s stock valued at $2,635,000 after acquiring an additional 2,529 shares during the last quarter. Portside Wealth Group LLC increased its position in Johnson & Johnson by 96.8% during the first quarter. Portside Wealth Group LLC now owns 29,501 shares of the company’s stock valued at $4,893,000 after acquiring an additional 14,513 shares during the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its position in Johnson & Johnson by 8.1% during the first quarter. Moss Adams Wealth Advisors LLC now owns 11,123 shares of the company’s stock valued at $1,845,000 after acquiring an additional 830 shares during 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 $155.19 on Tuesday. The firm has a market cap of $373.40 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $153.59 and a 200-day moving average price of $153.67. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99.

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

Johnson & Johnson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on JNJ shares. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Barclays cut their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Finally, Morgan Stanley boosted 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 issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has an average 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.