Edgemoor Investment Advisors Inc. Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Edgemoor Investment Advisors Inc. decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 3.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,339 shares of the company’s stock after selling 459 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Johnson & Johnson were worth $1,804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in JNJ. Citizens & Northern Corp lifted its stake in Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its stake in Johnson & Johnson by 0.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after acquiring an additional 64 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its stake in Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. Verity Asset Management Inc. lifted its stake in Johnson & Johnson by 2.0% during the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after acquiring an additional 65 shares in the last quarter. Finally, Outfitter Financial LLC lifted its stake in Johnson & Johnson by 0.4% during the 2nd quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. 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 report on Thursday, July 18th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. 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 report on Tuesday, July 23rd. Finally, TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

Shares of JNJ opened at $167.38 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock has a market cap of $402.92 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The firm has a fifty day moving average price of $158.40 and a 200 day moving average price of $153.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.96%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

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.