Fortis Group Advisors LLC Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Fortis Group Advisors LLC trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 14.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,001 shares of the company’s stock after selling 493 shares during the period. Fortis Group Advisors LLC’s holdings in Johnson & Johnson were worth $475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of JNJ. 4J Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 2.2% in the fourth quarter. 4J Wealth Management LLC now owns 2,835 shares of the company’s stock valued at $444,000 after purchasing an additional 62 shares during the last quarter. My Personal CFO LLC grew 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 in the last quarter. Eagle Strategies LLC grew 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 in the last quarter. Clearview Wealth Advisors LLC boosted its position in Johnson & Johnson by 1.5% during the fourth quarter. Clearview Wealth Advisors LLC now owns 4,373 shares of the company’s stock worth $685,000 after purchasing an additional 64 shares during the period. Finally, Brookmont Capital Management boosted its position in Johnson & Johnson by 0.4% during 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 period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

JNJ stock traded up $0.33 during midday trading on Friday, reaching $146.02. The company had a trading volume of 2,817,683 shares, compared to its average volume of 7,317,314. The company has a market capitalization of $351.42 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. The stock has a 50 day moving average price of $147.94 and a 200-day moving average price of $153.79. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94.

Johnson & Johnson (NYSE:JNJ) last issued 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. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 earnings per share. Equities research analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st were paid a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.40%. Johnson & Johnson’s payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of research firms have commented on JNJ. The Goldman Sachs Group began coverage on shares of Johnson & Johnson in a research report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Monday, June 17th. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.