Affinity Capital Advisors LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Affinity Capital Advisors LLC decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,107 shares of the company’s stock after selling 825 shares during the period. Affinity Capital Advisors LLC’s holdings in Johnson & Johnson were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Pathway Financial Advisors LLC boosted its holdings in shares of Johnson & Johnson by 4.3% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Johnson & Johnson by 5.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC boosted its holdings in Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after acquiring an additional 4,457 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in Johnson & Johnson by 12.7% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after acquiring an additional 2,201 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at $1,458,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.7 %

Shares of NYSE JNJ traded down $1.04 during midday trading on Wednesday, reaching $146.15. 731,572 shares of the company’s stock were exchanged, compared to its average volume of 7,369,729. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The stock has a market capitalization of $351.74 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 2.48 and a beta of 0.53. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The business’s fifty day moving average price is $148.13 and its two-hundred day moving average price is $154.24.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period in the previous year, the company earned $2.68 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a $1.24 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, May 20th. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Ratings Changes

JNJ has been the topic of a number of research analyst reports. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Saturday. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 17th. Bank of America reduced their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group began coverage on Johnson & Johnson in a report on Thursday, May 30th. They issued a “neutral” rating and a $160.00 target price on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $174.07.

Johnson & Johnson Company 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.