Valley Wealth Managers Inc. Has $3.75 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Valley Wealth Managers Inc. trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 80.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,681 shares of the company’s stock after selling 95,630 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Johnson & Johnson were worth $3,746,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in JNJ. 4J Wealth Management LLC increased its position in Johnson & Johnson by 2.2% during the 4th quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after purchasing an additional 62 shares in the last quarter. My Personal CFO LLC grew its holdings in shares of Johnson & Johnson by 1.4% during the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock worth $713,000 after purchasing an additional 62 shares during the last quarter. Eagle Strategies LLC boosted its position in Johnson & Johnson by 1.8% during the 4th quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock worth $563,000 after buying an additional 63 shares during the period. Clearview Wealth Advisors LLC increased its position in Johnson & Johnson by 1.5% in the 4th quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after acquiring an additional 64 shares during the period. Finally, Brookmont Capital Management grew its stake in shares of Johnson & Johnson by 0.4% in the fourth quarter. Brookmont Capital Management now owns 14,852 shares of the company’s stock worth $2,328,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley decreased their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Bank of America cut 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. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Monday, June 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 equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.07.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $149.69 on Friday. The firm has a market cap of $360.26 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 2.49 and a beta of 0.52. The company’s 50 day moving average is $147.92 and its 200-day moving average is $153.54. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were given a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Monday, May 20th. Johnson & Johnson’s payout ratio is 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.