Quadrature Capital Ltd cuts stakes in Johnson & Johnson (NYSE:JNJ)

Quadrature Capital Ltd cut its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The company owned 126,301 shares of the company after selling 13,649 shares during the quarter. Quadrature Capital Ltd’s stakes in Johnson & Johnson were worth $19,796,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in Johnson & Johnson in the fourth quarter worth about $107,000. Grayhawk Investment Strategies Inc. strengthened its position in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company, valued at $48,000, after purchasing an additional 259 shares last quarter. Accent Capital Management LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at approximately $246,000. M3 Advisory Group LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at approximately $492,000. Finally, Skyline Advisors Inc. purchased. a new stake in Johnson & Johnson worth approximately $375,000 in the fourth quarter. 69.55% of the shares are currently owned by hedge funds and other institutional investors.

Analysts set new price targets

JNJ has been the subject of a number of recent investigative reports. downgraded Johnson & Johnson from a “strong buy” rating to a “buy” rating in a research report on Monday, June 10. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Monday. The Goldman Sachs Group took over coverage of Johnson & Johnson in a report on Thursday, May 30. They issued a “neutral” rating and a $160.00 price target for the company. Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an equalweight rating for the company in a report on Wednesday, April 17. Finally, Bank of America lowered their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of ‘Hold’ and an average price target of $174.07.

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Johnson & Johnson shares fell 0.2%

Shares of JNJ opened at $145.65 on Wednesday. The stock has a 50-day moving average of $148.13 and a 200-day moving average of $154.56. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a market cap of $350.53 billion, a price-to-earnings ratio of 9.08, a price-to-earnings ratio of 2.43 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last reported its quarterly results on Tuesday, April 16. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to analyst expectations of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue rose 2.3% year over year. During the same period last year, the company earned $2.68 in earnings per share. As a group, sell-side analysts expect Johnson & Johnson to post 10.63 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 4. Shareholders of record received a $1.24 dividend on Tuesday, May 21st. The ex-dividend date was Monday, May 20. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a dividend of $4.96 annually and a dividend yield of 3.41%. Johnson & Johnson’s payout ratio is 30.92%.

About Johnson & Johnson

(Free report)

Johnson & Johnson, together with its subsidiaries, researches, develops, produces and sells various healthcare products worldwide. The company’s Innovative Medicine segment offers products across several therapeutic areas such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease and psoriasis; infectious diseases including HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders and schizophrenia; oncology, such as prostate cancer, hematological malignancies, lung cancer and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes and macular degeneration; and pulmonary hypertension, including pulmonary arterial hypertension, through retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use.

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Quarterly Institutional Ownership for Johnson & Johnson (NYSE:JNJ)

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