Hennion & Walsh Asset Management Inc. Sells 3,311 Shares of Johnson & Johnson (NYSE:JNJ)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,648 shares of the company’s stock after selling 3,311 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Johnson & Johnson were worth $6,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Gallagher Fiduciary Advisors LLC lifted its position in Johnson & Johnson by 18.9% in the third quarter. Gallagher Fiduciary Advisors LLC now owns 2,577 shares of the company’s stock worth $401,000 after purchasing an additional 409 shares during the period. Axxcess Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 71.8% during the 3rd quarter. Axxcess Wealth Management LLC now owns 66,481 shares of the company’s stock worth $10,354,000 after acquiring an additional 27,795 shares during the period. Augustine Asset Management Inc. boosted its position in shares of Johnson & Johnson by 7.6% during the 3rd quarter. Augustine Asset Management Inc. now owns 3,815 shares of the company’s stock valued at $594,000 after acquiring an additional 269 shares in the last quarter. Alerus Financial NA increased its stake in Johnson & Johnson by 1.7% in the third quarter. Alerus Financial NA now owns 4,299 shares of the company’s stock valued at $670,000 after acquiring an additional 71 shares during the period. Finally, Elevatus Welath Management lifted its stake in Johnson & Johnson by 29.1% during the third quarter. Elevatus Welath Management now owns 1,802 shares of the company’s stock worth $281,000 after purchasing an additional 406 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.2 %

Johnson & Johnson stock opened at $146.16 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week 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 firm has a market capitalization of $351.76 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 2.43 and a beta of 0.53. The company’s 50 day simple moving average is $148.14 and its 200 day simple moving average is $154.06.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (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 net margin of 45.26% and a return on equity of 36.70%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.68 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research report on Thursday, June 20th. 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 report on Wednesday, April 17th. Finally, Morgan Stanley reduced their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Eight research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.07.

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.