Johnson & Johnson (NYSE:JNJ) Shares Sold by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the first quarter, HoldingsChannel.com reports. The fund owned 83,385 shares of the company’s stock after selling 665 shares during the quarter. Johnson & Johnson comprises about 1.3% of Tritonpoint Wealth LLC’s investment portfolio, making the stock its 15th biggest holding. Tritonpoint Wealth LLC’s holdings in Johnson & Johnson were worth $13,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $290,000. Capital & Planning LLC raised its position in shares of Johnson & Johnson by 13.6% in the fourth quarter. Capital & Planning LLC now owns 1,528 shares of the company’s stock valued at $221,000 after buying an additional 183 shares during the last quarter. Brighton Jones LLC raised its position in shares of Johnson & Johnson by 13.9% in the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock valued at $7,502,000 after buying an additional 6,332 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $85,886,000. Finally, Peterson Wealth Services raised its position in shares of Johnson & Johnson by 5.4% in the fourth quarter. Peterson Wealth Services now owns 13,111 shares of the company’s stock valued at $1,896,000 after buying an additional 669 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JNJ. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 16th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Raymond James lowered their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Bank of America lowered their target price on shares of Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $170.88.

Johnson & Johnson Price Performance

JNJ opened at $156.90 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99. The company has a 50 day moving average of $153.84 and a two-hundred day moving average of $153.71. The company has a market cap of $377.52 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.56 and a beta of 0.42.

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

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a dividend yield of 3.31%. Johnson & Johnson’s dividend payout ratio is 57.84%.

Johnson & Johnson 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.