Valeo Financial Advisors LLC Has $17.73 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Valeo Financial Advisors LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,071 shares of the company’s stock after selling 8,834 shares during the quarter. Johnson & Johnson accounts for about 0.2% of Valeo Financial Advisors LLC’s holdings, making the stock its 29th largest position. Valeo Financial Advisors LLC’s holdings in Johnson & Johnson were worth $17,729,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $40,000. WFA Asset Management Corp raised its holdings 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 acquiring an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson during the fourth quarter valued at $44,000. Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson in the fourth quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. increased its position in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on JNJ. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price target for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. Bank of America dropped their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. The Goldman Sachs Group started coverage on Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.07.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $145.69 on Friday. The firm has a market capitalization of $350.63 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 2.42 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The business has a fifty day simple moving average of $147.96 and a 200 day simple moving average of $153.85. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data 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 company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.68 EPS. Sell-side analysts expect that Johnson & Johnson will post 10.62 EPS for the current year.

Johnson & Johnson Increases Dividend

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

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.