PFG Advisors Sells 505 Shares of Johnson & Johnson (NYSE:JNJ)

PFG Advisors trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% in the first quarter, Holdings Channel.com reports. The fund owned 31,874 shares of the company’s stock after selling 505 shares during the quarter. PFG Advisors’ holdings in Johnson & Johnson were worth $5,042,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. 4J Wealth Management LLC lifted its holdings in Johnson & Johnson by 2.2% during the fourth quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock worth $444,000 after acquiring an additional 62 shares during the period. My Personal CFO LLC raised its stake in shares of Johnson & Johnson by 1.4% in the fourth quarter. My Personal CFO LLC now owns 4,550 shares of the company’s stock valued at $713,000 after buying an additional 62 shares during the period. Eagle Strategies LLC raised its stake in shares of Johnson & Johnson by 1.8% in the fourth quarter. Eagle Strategies LLC now owns 3,589 shares of the company’s stock valued at $563,000 after buying an additional 63 shares during the period. Clearview Wealth Advisors LLC raised its stake in shares of Johnson & Johnson by 1.5% in the fourth quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock valued at $685,000 after buying an additional 64 shares during the period. Finally, Brookmont Capital Management raised 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 valued at $2,328,000 after buying an additional 64 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $149.88 on Friday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The business has a 50-day simple moving average of $147.94 and a 200 day simple moving average of $153.48. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The stock has a market cap of $360.71 billion, a price-to-earnings ratio of 9.34, a PEG ratio of 2.50 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping 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 business 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 revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 10.5 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were issued a $1.24 dividend. This is a boost 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 dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JNJ. 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 Monday, June 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the company from $169.00 to $170.00 in a research note on Thursday, April 18th. The Goldman Sachs Group started coverage on Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective on the stock. Finally, Morgan Stanley decreased their price objective on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

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.