ELCO Management Co. LLC Sells 195 Shares of Johnson & Johnson (NYSE:JNJ)

ELCO Management Co. LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 4.5% during the 2nd quarter, Holdings Channel reports. The firm owned 4,168 shares of the company’s stock after selling 195 shares during the quarter. ELCO Management Co. LLC’s holdings in Johnson & Johnson were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of JNJ. Toronto Dominion Bank grew its position in Johnson & Johnson by 13.0% in the second quarter. Toronto Dominion Bank now owns 1,197,314 shares of the company’s stock worth $174,999,000 after acquiring an additional 137,292 shares in the last quarter. Fred Alger Management LLC boosted its stake in Johnson & Johnson by 6.1% in the second quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock worth $6,280,000 after buying an additional 2,488 shares in the last quarter. Zurich Insurance Group Ltd FI grew its position in Johnson & Johnson by 366.6% during the second quarter. Zurich Insurance Group Ltd FI now owns 145,105 shares of the company’s stock valued at $21,209,000 after acquiring an additional 114,005 shares during the last quarter. Wescott Financial Advisory Group LLC raised its stake in shares of Johnson & Johnson by 50.5% during the second quarter. Wescott Financial Advisory Group LLC now owns 16,637 shares of the company’s stock worth $2,432,000 after acquiring an additional 5,581 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Johnson & Johnson by 60.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 461,569 shares of the company’s stock valued at $67,463,000 after purchasing an additional 173,170 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Down 0.3 %

Shares of Johnson & Johnson stock opened at $162.80 on Wednesday. The company has a 50-day simple moving average of $161.82 and a two-hundred day simple moving average of $154.18. The stock has a market capitalization of $391.90 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. 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, beating the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.80 EPS. On average, analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.05%. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on JNJ shares. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. TD Cowen decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Seven research 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 company’s stock. According to MarketBeat, the company has an average 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.