Johnson & Johnson (NYSE:JNJ) Shares Sold by American International Group Inc.

American International Group Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 611,455 shares of the company’s stock after selling 16,135 shares during the period. Johnson & Johnson makes up approximately 0.4% of American International Group Inc.’s portfolio, making the stock its 22nd largest position. American International Group Inc.’s holdings in Johnson & Johnson were worth $95,839,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $40,000. WFA Asset Management Corp raised its holdings in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $44,000. Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth about $45,000. Finally, Altshuler Shaham Ltd raised its holdings in Johnson & Johnson by 37.8% during the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock worth $49,000 after purchasing an additional 87 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $0.09 during trading on Friday, hitting $145.54. 4,075,342 shares of the company were exchanged, compared to its average volume of 7,121,075. The firm has a 50 day moving average price of $148.38 and a 200 day moving average price of $154.67. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $350.27 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.42 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 EPS. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $1.24 dividend. The ex-dividend date of this dividend was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.41%. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Ratings Changes

A number of research analysts have issued reports on JNJ shares. Morgan Stanley dropped their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. The Goldman Sachs Group started coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price for the company. Bank of America dropped their target price on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Monday, June 10th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Hold” and an average target price of $174.07.

About Johnson & Johnson

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.