Delap Wealth Advisory LLC Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

Delap Wealth Advisory LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 70.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,035 shares of the company’s stock after selling 4,787 shares during the quarter. Delap Wealth Advisory LLC’s holdings in Johnson & Johnson were worth $297,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JNJ. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter worth about $44,000. Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $46,000. Finally, Grayhawk Investment Strategies Inc. raised its position in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $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.

Johnson & Johnson Stock Down 0.4 %

Shares of NYSE JNJ opened at $164.16 on Friday. The company has a 50 day simple moving average of $161.30 and a 200-day simple moving average of $154.16. The company has a market capitalization of $395.08 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 EPS. On average, equities research analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Friday. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Finally, Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $161.00 to $171.00 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $173.21.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the 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 owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

About Johnson & Johnson

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.