Handelsbanken Fonder AB Has $239.57 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Handelsbanken Fonder AB reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 6.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,444,559 shares of the company’s stock after selling 96,866 shares during the quarter. Johnson & Johnson comprises 1.0% of Handelsbanken Fonder AB’s holdings, making the stock its 16th largest position. Handelsbanken Fonder AB’s holdings in Johnson & Johnson were worth $239,566,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in JNJ. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the fourth quarter worth $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $38,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $156.45 on Wednesday. The company has a market cap of $376.43 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 2.56 and a beta of 0.42. The stock has a fifty day moving average price of $153.52 and a 200-day moving average price of $153.69. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11.

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

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a $1.30 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.32%. Johnson & Johnson’s dividend payout ratio is presently 57.84%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of research reports. Morgan Stanley increased their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 16th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $169.00 to $153.00 in a report on Tuesday, May 13th. Raymond James reduced their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Thursday, June 5th. Eleven investment 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, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Company 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.