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

Quantum Private Wealth LLC lessened its position in Johnson & Johnson (NYSE:JNJ) by 22.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,772 shares of the company’s stock after selling 509 shares during the quarter. Quantum Private Wealth LLC’s holdings in Johnson & Johnson were worth $259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Christopher J. Hasenberg Inc purchased a new position in Johnson & Johnson in the first quarter valued at about $31,000. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $40,000. WFA Asset Management Corp grew its position in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Disciplined Equity Management Inc. bought a new position in Johnson & Johnson in the 4th quarter valued at $45,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.3 %

Shares of Johnson & Johnson stock traded up $0.46 on Friday, reaching $159.55. The stock had a trading volume of 2,457,215 shares, compared to its average volume of 7,324,396. The stock has a market capitalization of $383.99 billion, a P/E ratio of 9.92, a P/E/G ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.39. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $152.13 and a 200 day moving average price of $153.14.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the previous year, the business posted $2.80 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

Several analysts recently commented on JNJ shares. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Morgan Stanley increased their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Finally, TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $173.21.

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.