TruWealth Advisors LLC Trims Stock Holdings in Johnson & Johnson (NYSE:JNJ)

TruWealth Advisors LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 10.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,362 shares of the company’s stock after selling 639 shares during the period. TruWealth Advisors LLC’s holdings in Johnson & Johnson were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson during the 1st quarter valued at approximately $31,000. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth $40,000. WFA Asset Management Corp boosted its holdings in shares of Johnson & Johnson by 61.4% during the 4th 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 purchased a new position in shares of Johnson & Johnson during the fourth quarter valued at about $44,000. Finally, Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson in the fourth quarter worth about $45,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JNJ. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, August 5th. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Up 0.5 %

Johnson & Johnson stock traded up $0.72 during trading hours on Thursday, reaching $159.20. The stock had a trading volume of 3,656,683 shares, compared to its average volume of 7,333,372. The business’s 50 day moving average price is $151.88 and its 200-day moving average price is $153.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.39. The company has a market cap of $383.14 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly 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 business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.80 earnings per share. Sell-side analysts anticipate that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.12%. Johnson & Johnson’s payout ratio is 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.