McBroom & Associates LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

McBroom & Associates LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,335 shares of the company’s stock after selling 730 shares during the quarter. Johnson & Johnson comprises approximately 2.8% of McBroom & Associates LLC’s portfolio, making the stock its 19th largest holding. McBroom & Associates LLC’s holdings in Johnson & Johnson were worth $4,865,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $4,390,037,000. Raymond James Financial Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $1,339,878,000. GAMMA Investing LLC raised its position in shares of Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company’s stock valued at $1,196,596,000 after buying an additional 7,185,977 shares during the period. Janus Henderson Group PLC raised its position in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company’s stock valued at $1,149,536,000 after buying an additional 4,559,147 shares during the period. Finally, Northern Trust Corp increased its holdings in Johnson & Johnson by 12.3% in the 4th 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 during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $156.90 on Friday. 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 has a fifty day moving average price of $153.84 and a 200 day moving average price of $153.71. The company has a market cap of $377.52 billion, a P/E ratio of 23.59, a PEG 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.

Johnson & Johnson (NYSE:JNJ) last issued 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. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The firm had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were given a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.31%. Johnson & Johnson’s payout ratio is 57.84%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. Barclays dropped their target price on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Raymond James dropped 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. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Wall Street Zen downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Thursday, June 5th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.