Edge Capital Group LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Edge Capital Group LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 10.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 105,322 shares of the company’s stock after selling 11,684 shares during the quarter. Edge Capital Group LLC’s holdings in Johnson & Johnson were worth $15,394,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Gilbert & Cook Inc. increased its position in shares of Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after acquiring an additional 288 shares during the period. 9258 Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 2.1% in the fourth quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after purchasing an additional 443 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of Johnson & Johnson by 66.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock worth $2,244,000 after purchasing an additional 5,680 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in Johnson & Johnson by 1.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 36,777 shares of the company’s stock valued at $5,764,000 after buying an additional 700 shares during the last quarter. Finally, Citizens & Northern Corp raised its position in Johnson & Johnson by 9.1% during the 4th quarter. Citizens & Northern Corp now owns 2,956 shares of the company’s stock worth $463,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on JNJ shares. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Friday. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, TD Securities lowered their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $164.16 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The company has a fifty day moving average of $161.30 and a two-hundred day moving average of $154.16. The stock has a market capitalization of $395.08 billion, a PE ratio of 10.23, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its 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 company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.80 EPS. As a group, research analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.