Pineridge Advisors LLC Has $87,000 Stock Position in Johnson & Johnson (NYSE:JNJ)

Pineridge Advisors LLC lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 9.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 598 shares of the company’s stock after selling 66 shares during the quarter. Pineridge Advisors LLC’s holdings in Johnson & Johnson were worth $87,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tennessee Valley Asset Management Partners raised its stake in Johnson & Johnson by 3.1% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 2,666 shares of the company’s stock valued at $418,000 after purchasing an additional 80 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in Johnson & Johnson in the fourth quarter valued at about $262,000. Strata Wealth Advisors LLC grew its position in Johnson & Johnson by 11.4% in the fourth quarter. Strata Wealth Advisors LLC now owns 1,857 shares of the company’s stock valued at $291,000 after acquiring an additional 190 shares during the last quarter. CWM LLC grew its position in Johnson & Johnson by 7.4% in the fourth quarter. CWM LLC now owns 356,862 shares of the company’s stock valued at $55,935,000 after acquiring an additional 24,515 shares during the last quarter. Finally, Smith & Howard Wealth Management LLC grew its position in Johnson & Johnson by 78.6% in the fourth quarter. Smith & Howard Wealth Management LLC now owns 5,985 shares of the company’s stock valued at $938,000 after acquiring an additional 2,634 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JNJ. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, August 5th. Morgan Stanley boosted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Finally, The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $1.78 on Friday, hitting $164.13. The company’s stock had a trading volume of 7,093,429 shares, compared to its average volume of 7,299,449. The company has a 50-day simple moving average of $153.92 and a 200 day simple moving average of $153.20. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $167.78. The company has a market capitalization of $395.01 billion, a PE ratio of 10.23, a PEG ratio of 2.63 and a beta of 0.52. 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 (NYSE:JNJ) last announced its quarterly earnings data 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 company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $2.80 EPS. Sell-side analysts forecast that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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 given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s payout ratio is 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.