Adell Harriman & Carpenter Inc. Lowers Stake in Johnson & Johnson (NYSE:JNJ)

Adell Harriman & Carpenter Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 36.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 47,681 shares of the company’s stock after selling 27,454 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Johnson & Johnson were worth $6,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. lifted its stake in shares of Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after acquiring an additional 2,201 shares during the period. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the 2nd quarter worth $1,626,000. Summit Financial Wealth Advisors LLC lifted its stake in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after acquiring an additional 1,122 shares during the period. Gilbert & Cook Inc. lifted its stake in shares of Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after acquiring an additional 288 shares during the period. Finally, Franklin Parlapiano Turner & Welch LLC lifted its stake in shares of Johnson & Johnson by 0.7% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after acquiring an additional 325 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $167.27 on Thursday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The firm has a 50 day moving average price of $156.82 and a 200 day moving average price of $153.70. The company has a market cap of $402.57 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 2.73 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the firm earned $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared 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 2.97%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Tuesday. Sanford C. Bernstein raised their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

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.