Thoroughbred Financial Services LLC Sells 311 Shares of Johnson & Johnson (NYSE:JNJ)

Thoroughbred Financial Services LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,005 shares of the company’s stock after selling 311 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Johnson & Johnson were worth $7,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Johnson & Johnson in the fourth quarter worth $4,071,642,000. Charles Schwab Investment Management Inc. raised its position in Johnson & Johnson by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock worth $2,483,532,000 after buying an additional 241,799 shares during the last quarter. California Public Employees Retirement System lifted its stake in Johnson & Johnson by 4.9% during the 4th quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after acquiring an additional 498,647 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Johnson & Johnson by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after acquiring an additional 975,485 shares during the last quarter. Finally, Raymond James & Associates raised its holdings in shares of Johnson & Johnson by 0.4% during the fourth quarter. Raymond James & Associates now owns 6,061,707 shares of the company’s stock valued at $950,112,000 after purchasing an additional 26,982 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $151.25 on Wednesday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The company has a market cap of $364.01 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 2.49 and a beta of 0.55. The firm’s fifty day moving average is $151.88 and its 200 day moving average is $155.12. 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 (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter last year, the firm earned $2.68 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Johnson & Johnson will post 10.64 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

JNJ has been the topic of several research analyst reports. Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, May 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

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.