Patriot Investment Management Group Inc. Sells 337 Shares of Johnson & Johnson (NYSE:JNJ)

Patriot Investment Management Group Inc. cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,416 shares of the company’s stock after selling 337 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Johnson & Johnson were worth $1,893,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $29,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Johnson & Johnson in the fourth quarter worth about $38,000. 69.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on JNJ shares. Barclays dropped their price target on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Raymond James dropped their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Stock Up 0.9%

Shares of NYSE JNJ opened at $156.61 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market capitalization of $376.82 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 2.56 and a beta of 0.42. The stock has a 50 day moving average price of $153.69 and a 200 day moving average price of $153.71. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th were paid a $1.30 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.32%. Johnson & Johnson’s payout ratio is 57.84%.

Johnson & Johnson Company Profile

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.