Means Investment CO. Inc. Sells 1,869 Shares of Johnson & Johnson (NYSE:JNJ)

Means Investment CO. Inc. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 6.5% during the second quarter, Holdings Channel.com reports. The fund owned 26,846 shares of the company’s stock after selling 1,869 shares during the period. Means Investment CO. Inc.’s holdings in Johnson & Johnson were worth $3,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in Johnson & Johnson in the 1st quarter valued at $31,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. bought a new position in Johnson & Johnson during the fourth quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. grew its stake in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $159.60 on Tuesday. The company has a market cap of $384.11 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $169.85. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average is $152.63 and its 200 day moving average is $153.07.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.11%. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Ratings Changes

A number of brokerages have commented on JNJ. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group cut their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, TD Securities lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $173.21.

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.