Key Client Fiduciary Advisors LLC Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Key Client Fiduciary Advisors LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,904 shares of the company’s stock after selling 399 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Johnson & Johnson were worth $571,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in JNJ. Pathway Financial Advisors LLC increased its position in Johnson & Johnson by 4.3% during the 4th 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. raised its position in shares of Johnson & Johnson by 5.5% in the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the last quarter. Drive Wealth Management LLC boosted its stake in 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 purchasing an additional 414 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its position in Johnson & Johnson by 12.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after purchasing an additional 2,201 shares during the last quarter. Finally, California Public Employees Retirement System raised 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 worth $1,664,620,000 after buying an additional 498,647 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $0.29 during trading on Thursday, reaching $158.77. 1,464,231 shares of the company’s stock traded hands, compared to its average volume of 7,318,511. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.39. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market cap of $382.11 billion, a PE ratio of 9.85, a P/E/G ratio of 2.63 and a beta of 0.52. The company has a 50-day simple moving average of $151.88 and a 200-day simple moving average of $153.10.

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

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 3.12%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Ratings Changes

JNJ has been the subject of a number of research analyst reports. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Cowen dropped their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, August 5th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Bank of America lowered their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.