Wealth Effects LLC Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Wealth Effects LLC trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 8,764 shares of the company’s stock after selling 429 shares during the quarter. Wealth Effects LLC’s holdings in Johnson & Johnson were worth $1,420,000 as of its most recent filing with the SEC.

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

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $162.85 on Tuesday. 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 $391.92 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a 50-day moving average of $163.04 and a 200-day moving average of $154.77.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.66 EPS. Sell-side analysts expect that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.05%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on JNJ shares. TD Securities decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Citigroup lifted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Daiwa Capital Markets cut 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. Finally, Royal Bank of Canada upped their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $175.93.

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.