Blue Zone Wealth Advisors LLC Sells 276 Shares of Johnson & Johnson (NYSE:JNJ)

Blue Zone Wealth Advisors LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 12.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,900 shares of the company’s stock after selling 276 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $301,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Alerus Financial NA boosted its position in shares of Johnson & Johnson by 1.7% during the third quarter. Alerus Financial NA now owns 4,299 shares of the company’s stock worth $670,000 after purchasing an additional 71 shares in the last quarter. Elevatus Welath Management lifted its holdings 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 acquiring an additional 406 shares in the last quarter. Legacy Advisors LLC grew its stake in Johnson & Johnson by 6.3% in the third quarter. Legacy Advisors LLC now owns 72,571 shares of the company’s stock valued at $11,303,000 after acquiring an additional 4,279 shares during the period. Lakeshore Financial Planning Inc. bought a new stake in shares of Johnson & Johnson in the third quarter worth about $460,000. Finally, KPP Advisory Services LLC bought a new position in shares of Johnson & Johnson during the 3rd quarter valued at about $1,828,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their target price for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley cut their price objective 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. The Goldman Sachs Group initiated coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price for the company. Bank of America cut their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.07.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $146.42 on Tuesday. 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 50-day moving average of $148.14 and a 200-day moving average of $154.05. The company has a market cap of $352.39 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. 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.