Successful Portfolios LLC Sells 432 Shares of Johnson & Johnson (NYSE:JNJ)

Successful Portfolios LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,182 shares of the company’s stock after selling 432 shares during the quarter. Successful Portfolios LLC’s holdings in Johnson & Johnson were worth $820,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in JNJ. Alerus Financial NA grew its position in shares of Johnson & Johnson by 1.7% during the 3rd quarter. Alerus Financial NA now owns 4,299 shares of the company’s stock worth $670,000 after buying an additional 71 shares during the period. Elevatus Welath Management grew its position in Johnson & Johnson by 29.1% in the 3rd quarter. Elevatus Welath Management now owns 1,802 shares of the company’s stock valued at $281,000 after purchasing an additional 406 shares during the period. Legacy Advisors LLC grew its position in Johnson & Johnson by 6.3% in the 3rd quarter. Legacy Advisors LLC now owns 72,571 shares of the company’s stock valued at $11,303,000 after purchasing an additional 4,279 shares during the period. Lakeshore Financial Planning Inc. acquired a new stake in Johnson & Johnson in the 3rd quarter valued at $460,000. Finally, KPP Advisory Services LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at $1,828,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JNJ shares. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target 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 issued a $175.00 price target on shares of Johnson & Johnson in a research report on Monday, June 17th. Bank of America reduced their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Price Performance

JNJ opened at $146.42 on Tuesday. The firm has a market cap of $352.39 billion, a P/E ratio of 9.13, a PEG ratio of 2.43 and a beta of 0.52. The firm has a 50-day moving average of $148.14 and a 200 day moving average of $154.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share 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 for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. On average, research analysts expect that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

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