Fortis Group Advisors LLC Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Fortis Group Advisors LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 17.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,473 shares of the company’s stock after selling 528 shares during the quarter. Fortis Group Advisors LLC’s holdings in Johnson & Johnson were worth $361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Johnson & Johnson during the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson during the first quarter valued at about $31,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the second quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $44,000. Finally, Grayhawk Investment Strategies Inc. lifted its holdings in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Daiwa Capital Markets downgraded 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, August 5th. TD Securities lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, The Goldman Sachs Group lowered their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Up 1.0 %

Shares of NYSE JNJ opened at $165.86 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $165.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $155.68 and its two-hundred day simple moving average is $153.51. The stock has a market capitalization of $399.26 billion, a P/E ratio of 10.34, a PEG ratio of 2.73 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period last year, the business earned $2.80 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson 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.