City Holding Co. Decreases Stake in Johnson & Johnson (NYSE:JNJ)

City Holding Co. reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 3.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,143 shares of the company’s stock after selling 868 shares during the quarter. City Holding Co.’s holdings in Johnson & Johnson were worth $3,672,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $38,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Up 0.1%

Shares of NYSE:JNJ opened at $155.19 on Tuesday. The stock has a fifty day simple moving average of $153.59 and a two-hundred day simple moving average of $153.67. The stock has a market capitalization of $373.40 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

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

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.35%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is currently 57.84%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JNJ. Wall Street Zen lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Guggenheim restated a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. The Goldman Sachs Group upgraded 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, Raymond James dropped their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Eleven 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 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.