WASHINGTON TRUST Co Trims Holdings in Johnson & Johnson (NYSE:JNJ)

WASHINGTON TRUST Co lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,994 shares of the company’s stock after selling 3,952 shares during the period. WASHINGTON TRUST Co’s holdings in Johnson & Johnson were worth $18,708,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $31,000. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $40,000. WFA Asset Management Corp lifted its holdings in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $44,000. Finally, Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson during the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Sanford C. Bernstein upped their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Finally, TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Down 1.1 %

JNJ stock traded down $1.74 during trading on Tuesday, hitting $158.14. 4,591,357 shares of the company’s stock traded hands, compared to its average volume of 7,338,204. The firm has a market capitalization of $380.59 billion, a P/E ratio of 9.81, a PEG ratio of 2.63 and a beta of 0.52. The business has a fifty day simple moving average of $151.41 and a two-hundred day simple moving average of $153.07. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.60.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.14%. Johnson & Johnson’s payout ratio is currently 30.92%.

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.