Texas Capital Bancshares Inc TX Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Texas Capital Bancshares Inc TX reduced its stake in Johnson & Johnson (NYSE:JNJ) by 27.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,172 shares of the company’s stock after selling 1,603 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in Johnson & Johnson were worth $660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson during the first quarter valued at about $31,000. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $40,000. WFA Asset Management Corp lifted its holdings in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. bought a new stake in shares of Johnson & Johnson during the fourth quarter valued at about $45,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the topic of several analyst reports. Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Thursday, July 18th. The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, TD Cowen decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned 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 target price of $173.00.

Johnson & Johnson Price Performance

NYSE JNJ traded down $1.91 on Tuesday, reaching $152.33. 6,260,286 shares of the company’s stock traded hands, compared to its average volume of 7,324,389. The stock has a market cap of $366.61 billion, a PE ratio of 9.47, a P/E/G ratio of 2.85 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The stock has a 50-day simple moving average of $148.42 and a 200 day simple moving average of $153.24.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.80 earnings per share. As a group, research analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

About Johnson & Johnson

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