SeaCrest Wealth Management LLC Lowers Position in Johnson & Johnson (NYSE:JNJ)

SeaCrest Wealth Management LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 48.5% in the first quarter, Holdings Channel.com reports. The firm owned 24,813 shares of the company’s stock after selling 23,336 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,925,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth approximately $40,000. WFA Asset Management Corp lifted its position in shares of 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 purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $44,000. Disciplined Equity Management Inc. acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in shares of 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 purchasing an additional 259 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $145.62 on Thursday. The firm has a 50-day moving average price of $148.02 and a 200 day moving average price of $153.91. The firm has a market capitalization of $350.46 billion, a PE ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.52. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The firm 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%. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.41%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

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