HBK Sorce Advisory LLC Decreases Position in Johnson & Johnson (NYSE:JNJ)

HBK Sorce Advisory LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 53,703 shares of the company’s stock after selling 2,517 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Johnson & Johnson were worth $7,849,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson during the first quarter valued at $31,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $44,000. MFA Wealth Advisors LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at about $43,000. Finally, Grayhawk Investment Strategies Inc. boosted 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 valued at $48,000 after buying an additional 259 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $165.52 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a market cap of $398.45 billion, a PE ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a fifty day moving average price of $159.55 and a 200-day moving average price of $153.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the company earned $2.80 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. Johnson & Johnson’s payout ratio is currently 30.92%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on JNJ. Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Morgan Stanley upped their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. The Goldman Sachs Group dropped their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.