Revolve Wealth Partners LLC Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Revolve Wealth Partners LLC reduced its stake in Johnson & Johnson (NYSE:JNJ) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,600 shares of the company’s stock after selling 1,146 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Johnson & Johnson were worth $819,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pathway Financial Advisors LLC grew its holdings in 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 acquiring an additional 226 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after buying an additional 15,490 shares in the last quarter. Drive Wealth Management LLC boosted its position in shares of Johnson & Johnson by 4.5% in the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after buying an additional 414 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in Johnson & Johnson by 12.7% during the 4th 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 in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock valued at $1,664,620,000 after purchasing an additional 498,647 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $159.50 on Monday. The business has a 50 day moving average price of $152.38 and a two-hundred day moving average price of $153.06. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $169.85. The firm has a market cap of $383.87 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.11%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research analyst reports. The Goldman Sachs Group dropped their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Seven 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 company’s stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.21.

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.