Steel Grove Capital Advisors LLC Sells 3,787 Shares of Johnson & Johnson (NYSE:JNJ)

Steel Grove Capital Advisors LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 67.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,860 shares of the company’s stock after selling 3,787 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Johnson & Johnson were worth $272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the second quarter worth $27,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the 2nd quarter worth $43,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at approximately $44,000. Fairfield Financial Advisors LTD bought a new stake in Johnson & Johnson during the second quarter worth about $46,000. Finally, Grayhawk Investment Strategies Inc. grew its stake in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on JNJ shares. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Friday. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Stock Performance

JNJ opened at $163.21 on Tuesday. The firm’s fifty day simple moving average is $161.58 and its two-hundred day simple moving average is $154.15. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a market cap of $392.79 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. Equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.04%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by 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.