Tower Wealth Partners Inc. Cuts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Tower Wealth Partners Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 31.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,484 shares of the company’s stock after selling 1,126 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Johnson & Johnson were worth $393,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JNJ. Plimoth Trust Co. LLC lifted its position in Johnson & Johnson by 4.6% in the 1st quarter. Plimoth Trust Co. LLC now owns 34,163 shares of the company’s stock worth $5,404,000 after buying an additional 1,513 shares during the last quarter. Silverlake Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 1.3% in the 1st quarter. Silverlake Wealth Management LLC now owns 24,449 shares of the company’s stock worth $3,868,000 after acquiring an additional 302 shares during the last quarter. Naviter Wealth LLC boosted its stake in shares of Johnson & Johnson by 43.8% in the 1st quarter. Naviter Wealth LLC now owns 20,281 shares of the company’s stock valued at $3,208,000 after purchasing an additional 6,174 shares in the last quarter. Quattro Financial Advisors LLC grew its holdings in shares of Johnson & Johnson by 27,610.8% during the 1st quarter. Quattro Financial Advisors LLC now owns 43,506 shares of the company’s stock valued at $6,882,000 after purchasing an additional 43,349 shares during the last quarter. Finally, MV Capital Management Inc. raised its position in Johnson & Johnson by 5.3% in the 1st quarter. MV Capital Management Inc. now owns 18,942 shares of the company’s stock worth $2,996,000 after purchasing an additional 947 shares during the period. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 0.2 %

NYSE JNJ opened at $145.69 on Friday. The stock’s fifty day moving average price is $147.96 and its 200-day moving average price is $153.85. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a market cap of $350.63 billion, a P/E ratio of 9.08, a P/E/G ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating 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 revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 10.62 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were given a $1.24 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s dividend payout ratio is 30.92%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Morgan Stanley decreased their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.