Fiduciary Alliance LLC Sells 11,097 Shares of Johnson & Johnson (NYSE:JNJ)

Fiduciary Alliance LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 13.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,817 shares of the company’s stock after selling 11,097 shares during the quarter. Johnson & Johnson makes up about 1.9% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 11th largest holding. Fiduciary Alliance LLC’s holdings in Johnson & Johnson were worth $10,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Alerus Financial NA raised its stake in Johnson & Johnson by 1.7% during the third quarter. Alerus Financial NA now owns 4,299 shares of the company’s stock valued at $670,000 after purchasing an additional 71 shares in the last quarter. Elevatus Welath Management raised its stake in Johnson & Johnson by 29.1% during the third quarter. Elevatus Welath Management now owns 1,802 shares of the company’s stock valued at $281,000 after purchasing an additional 406 shares in the last quarter. Legacy Advisors LLC raised its stake in Johnson & Johnson by 6.3% during the third 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 in the last quarter. Lakeshore Financial Planning Inc. purchased a new stake in Johnson & Johnson during the third quarter valued at $460,000. Finally, KPP Advisory Services LLC purchased a new stake in shares of Johnson & Johnson in the third quarter valued at $1,828,000. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 price target on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Monday, June 17th. Eight equities research analysts have rated the stock with a hold rating, five have assigned 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 price target of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $146.42 on Tuesday. The stock has a market capitalization of $352.39 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 2.43 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The firm’s 50 day simple moving average is $148.14 and its 200-day simple moving average is $154.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. During the same quarter last year, the company earned $2.68 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Analysts expect that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were paid a $1.24 dividend. The ex-dividend date was Monday, May 20th. 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. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

About Johnson & Johnson

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.