Burkett Financial Services LLC Has $599,000 Position in Johnson & Johnson (NYSE:JNJ)

Burkett Financial Services LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,694 shares of the company’s stock after selling 118 shares during the period. Burkett Financial Services LLC’s holdings in Johnson & Johnson were worth $599,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the second quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the second quarter valued at about $43,000. Fairfield Financial Advisors LTD bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $46,000. 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 buying an additional 259 shares during the period. Finally, Fairway Wealth LLC increased its stake in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after purchasing an additional 228 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on JNJ shares. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group decreased their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, Morgan Stanley lifted their price target 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. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.43.

Johnson & Johnson Stock Performance

JNJ traded up $0.42 during trading hours on Wednesday, hitting $160.11. The stock had a trading volume of 924,698 shares, compared to its average volume of 7,033,937. The stock has a market cap of $385.33 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $162.59 and its 200 day simple moving average is $154.36. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The company 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%. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 EPS. Equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.10%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

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.