Shikiar Asset Management Inc. Lowers Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Shikiar Asset Management Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,563 shares of the company’s stock after selling 100 shares during the quarter. Shikiar Asset Management Inc.’s holdings in Johnson & Johnson were worth $425,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Lantz Financial LLC boosted its holdings in Johnson & Johnson by 3.3% in the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock valued at $1,986,000 after purchasing an additional 377 shares in the last quarter. Sulzberger Capital Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter valued at approximately $453,000. Horan Securities Inc. boosted its holdings in Johnson & Johnson by 1.3% in the 4th quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock valued at $1,038,000 after purchasing an additional 90 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock valued at $501,000 after purchasing an additional 1,271 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Johnson & Johnson by 205,580.0% in the 4th quarter. State of Wyoming now owns 10,284 shares of the company’s stock valued at $1,487,000 after purchasing an additional 10,279 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $155.24 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The firm has a 50-day moving average of $153.96 and a two-hundred day moving average of $153.70. The stock has a market cap of $373.52 billion, a P/E ratio of 23.34, a PEG ratio of 2.56 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. On average, research analysts expect 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. Stockholders of record on Tuesday, May 27th were given a dividend of $1.30 per share. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 57.84%.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 5th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Leerink Partners downgraded shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently 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.