Gleason Group Inc. Sells 149 Shares of Johnson & Johnson (NYSE:JNJ)

Gleason Group Inc. cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,325 shares of the company’s stock after selling 149 shares during the period. Gleason Group Inc.’s holdings in Johnson & Johnson were worth $1,159,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in JNJ. 4J Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 2.2% in the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after buying an additional 62 shares during the period. My Personal CFO LLC lifted its holdings in shares of Johnson & Johnson by 1.4% in the 4th quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock worth $713,000 after buying an additional 62 shares during the period. Eagle Strategies LLC lifted its holdings in shares of Johnson & Johnson by 1.8% in the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares during the period. Clearview Wealth Advisors LLC lifted its holdings in shares of Johnson & Johnson by 1.5% in the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock worth $685,000 after buying an additional 64 shares during the period. Finally, Brookmont Capital Management lifted its holdings in shares of Johnson & Johnson by 0.4% in the 4th quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after buying an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock traded down $0.42 on Wednesday, reaching $146.77. 1,701,999 shares of the stock were exchanged, compared to its average volume of 7,378,230. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $175.97. The firm has a market capitalization of $353.23 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.45 and a beta of 0.53. The business has a 50 day moving average price of $148.13 and a two-hundred day moving average price of $154.24.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Johnson & Johnson will post 10.63 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.38%. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to 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.