Perennial Advisors LLC Sells 914 Shares of Johnson & Johnson (NYSE:JNJ)

Perennial Advisors LLC decreased its stake in Johnson & Johnson (NYSE:JNJ) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,282 shares of the company’s stock after selling 914 shares during the period. Johnson & Johnson comprises about 1.7% of Perennial Advisors LLC’s holdings, making the stock its 20th largest holding. Perennial Advisors LLC’s holdings in Johnson & Johnson were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson in the first quarter valued at approximately $31,000. WFA Asset Management Corp grew its holdings in Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $44,000. Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson during the fourth quarter valued at $45,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Trading Up 0.6 %

JNJ opened at $162.36 on Friday. The company has a market cap of $390.75 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company has a fifty day moving average price of $153.55 and a two-hundred day moving average price of $153.21. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $167.78.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.05%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 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.