ProVise Management Group LLC Sells 694 Shares of Johnson & Johnson (NYSE:JNJ)

ProVise Management Group LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,488 shares of the company’s stock after selling 694 shares during the period. ProVise Management Group LLC’s holdings in Johnson & Johnson were worth $1,971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson in the second quarter valued at $1,626,000. Summit Financial Wealth Advisors LLC lifted its stake in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares during the period. Gilbert & Cook Inc. boosted its position in shares of Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after purchasing an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC grew its stake in Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares during the period. Finally, Capital Asset Advisory Services LLC increased its holdings in Johnson & Johnson by 8.8% in the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after purchasing an additional 2,151 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.8 %

Shares of Johnson & Johnson stock opened at $164.82 on Friday. The company has a market capitalization of $396.67 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The stock has a fifty day simple moving average of $161.02 and a 200 day simple moving average of $154.17. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. 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 (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the prior year, the company posted $2.80 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on JNJ shares. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Finally, TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Seven investment 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 stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Activity at Johnson & Johnson

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

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.