RMR Wealth Builders Lowers Holdings in Johnson & Johnson (NYSE:JNJ)

RMR Wealth Builders lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,890 shares of the company’s stock after selling 504 shares during the quarter. RMR Wealth Builders’ holdings in Johnson & Johnson were worth $715,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Pathway Financial Advisors LLC boosted its stake in shares of Johnson & Johnson by 4.3% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after buying an additional 226 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in 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 acquiring an additional 15,490 shares during the period. Drive Wealth Management LLC boosted its position in shares of Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after purchasing an additional 414 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its holdings in shares of Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after purchasing an additional 2,201 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Johnson & Johnson by 4.9% in the 4th 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. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $162.36 on Friday. The firm has a market cap of $390.75 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.78. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average is $153.55 and its two-hundred day moving average is $153.21.

Johnson & Johnson (NYSE:JNJ) last announced its 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 firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter last year, the business earned $2.80 earnings per share. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

Several research analysts have weighed in on JNJ shares. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 30th. TD Securities lowered their price target on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Sanford C. Bernstein lifted their price objective on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

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.