Johnson & Johnson (NYSE:JNJ) Shares Sold by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,928 shares of the company’s stock after selling 516 shares during the period. Eagle Bay Advisors LLC’s holdings in Johnson & Johnson were worth $720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vestmark Advisory Solutions Inc. raised its holdings in shares of Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after buying an additional 2,201 shares during the last quarter. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC increased its holdings in Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after buying an additional 1,122 shares during the period. Gilbert & Cook Inc. raised its position in Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after buying an additional 288 shares during the last quarter. Finally, Private Wealth Partners LLC lifted its stake in Johnson & Johnson by 8.7% during the 4th quarter. Private Wealth Partners LLC now owns 74,330 shares of the company’s stock valued at $11,650,000 after acquiring an additional 5,930 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ traded down $1.66 during midday trading on Tuesday, hitting $162.95. The stock had a trading volume of 4,388,336 shares, compared to its average volume of 7,282,063. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $166.21. The company has a market capitalization of $392.17 billion, a PE ratio of 10.16, a P/E/G ratio of 2.63 and a beta of 0.52. The stock has a 50 day simple moving average of $154.30 and a 200-day simple moving average of $153.26.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.80 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Ratings Changes

JNJ has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group dropped their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, August 5th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Profile

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.