Townsend Asset Management Corp NC ADV Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Townsend Asset Management Corp NC ADV cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,087 shares of the company’s stock after selling 75 shares during the quarter. Townsend Asset Management Corp NC ADV’s holdings in Johnson & Johnson were worth $1,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson during the 1st quarter worth $31,000. MFA Wealth Advisors LLC bought a new stake in Johnson & Johnson in the second quarter worth about $43,000. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson in the fourth quarter valued at about $44,000. Disciplined Equity Management Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. lifted its stake in Johnson & Johnson by 528.6% in 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. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven 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. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

JNJ opened at $164.65 on Tuesday. The stock has a market capitalization of $396.26 billion, a P/E ratio of 10.26, a PEG ratio of 2.63 and a beta of 0.52. 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 12-month low of $143.13 and a 12-month high of $166.21. The stock has a 50-day moving average price of $154.30 and a 200-day moving average price of $153.26.

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. Equities analysts predict that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 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.