Johnson & Johnson (NYSE:JNJ) Shares Sold by Edge Wealth Management LLC

Edge Wealth Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,050 shares of the company’s stock after selling 651 shares during the period. Johnson & Johnson accounts for about 2.6% of Edge Wealth Management LLC’s portfolio, making the stock its 17th largest holding. Edge Wealth Management LLC’s holdings in Johnson & Johnson were worth $12,347,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in JNJ. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $40,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter worth $44,000. Disciplined Equity Management Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its position in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Thursday, June 20th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Monday, June 17th. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $174.07.

Johnson & Johnson Stock Up 0.3 %

Shares of NYSE:JNJ traded up $0.40 during midday trading on Friday, reaching $146.20. The company had a trading volume of 392,389 shares, compared to its average volume of 7,338,384. The stock has a market capitalization of $351.86 billion, a P/E ratio of 9.09, a PEG ratio of 2.44 and a beta of 0.53. The stock’s fifty day moving average price is $148.17 and its 200-day moving average price is $154.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS 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 estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 earnings per share. Equities research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 30.92%.

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.