Burkett Financial Services LLC Lowers Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Burkett Financial Services LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,101 shares of the company’s stock after selling 81 shares during the quarter. Burkett Financial Services LLC’s holdings in Johnson & Johnson were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of JNJ. Tallon Kerry Patrick bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at $290,000. Capital & Planning LLC grew its stake in shares of Johnson & Johnson by 13.6% during the 4th quarter. Capital & Planning LLC now owns 1,528 shares of the company’s stock valued at $221,000 after acquiring an additional 183 shares during the period. Brighton Jones LLC grew its stake in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after acquiring an additional 6,332 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $85,886,000. Finally, Lazari Capital Management Inc. lifted its holdings in shares of Johnson & Johnson by 4.3% in the fourth quarter. Lazari Capital Management Inc. now owns 6,277 shares of the company’s stock worth $908,000 after buying an additional 260 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JNJ. Raymond James lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Benchmark raised Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Bank of America reduced their target price on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eleven investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.88.

Johnson & Johnson Trading Up 0.9%

Shares of JNJ stock opened at $155.02 on Friday. The firm has a market capitalization of $372.99 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $153.59 and its 200 day simple moving average is $153.68. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $21.65 billion. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

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

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.