Johnson & Johnson (NYSE:JNJ) Shares Sold by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,081 shares of the company’s stock after selling 78 shares during the period. Redmont Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $329,000 at the end of the most recent reporting period.

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

Johnson & Johnson Stock Down 0.2 %

JNJ opened at $145.69 on Friday. The business’s fifty day moving average is $147.96 and its two-hundred day moving average is $153.85. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The company has a market cap of $350.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.42 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 posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. Johnson & Johnson’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. Analysts anticipate that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced 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 3.40%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Company 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.