Blue Zone Wealth Advisors LLC Has $301,000 Stock Position in Johnson & Johnson (NYSE:JNJ)

Blue Zone Wealth Advisors LLC cut its position in Johnson & Johnson (NYSE:JNJ) by 12.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,900 shares of the company’s stock after selling 276 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JNJ. Alerus Financial NA lifted its holdings in shares of Johnson & Johnson by 1.7% in the 3rd quarter. Alerus Financial NA now owns 4,299 shares of the company’s stock worth $670,000 after purchasing an additional 71 shares in the last quarter. Elevatus Welath Management raised its holdings in Johnson & Johnson by 29.1% during the third quarter. Elevatus Welath Management now owns 1,802 shares of the company’s stock worth $281,000 after buying an additional 406 shares during the last quarter. Legacy Advisors LLC lifted its stake in shares of Johnson & Johnson by 6.3% in the third quarter. Legacy Advisors LLC now owns 72,571 shares of the company’s stock valued at $11,303,000 after buying an additional 4,279 shares in the last quarter. Lakeshore Financial Planning Inc. acquired a new position in shares of Johnson & Johnson during the third quarter valued at about $460,000. Finally, KPP Advisory Services LLC bought a new stake in shares of Johnson & Johnson during the third quarter worth about $1,828,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JNJ. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. Finally, HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price target for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $146.42 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $148.14 and a two-hundred day simple moving average of $154.05. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The firm has a market cap of $352.39 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 2.43 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion during the quarter, compared to analyst estimates of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 EPS. Analysts anticipate that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

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

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.