Kovack Advisors Inc. Sells 2,315 Shares of Johnson & Johnson (NYSE:JNJ)

Kovack Advisors Inc. reduced its holdings in Johnson & Johnson (NYSE:JNJ) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,673 shares of the company’s stock after selling 2,315 shares during the quarter. Kovack Advisors Inc.’s holdings in Johnson & Johnson were worth $4,971,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JNJ. China Universal Asset Management Co. Ltd. acquired a new position in shares of Johnson & Johnson during the first quarter worth approximately $765,000. Empowered Funds LLC lifted its stake in shares of Johnson & Johnson by 46.7% in the first quarter. Empowered Funds LLC now owns 101,237 shares of the company’s stock valued at $16,015,000 after buying an additional 32,244 shares in the last quarter. O Dell Group LLC grew its holdings in shares of Johnson & Johnson by 8.6% during the first quarter. O Dell Group LLC now owns 3,472 shares of the company’s stock valued at $549,000 after buying an additional 276 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Johnson & Johnson by 9.4% during the first quarter. QRG Capital Management Inc. now owns 453,858 shares of the company’s stock worth $71,796,000 after acquiring an additional 38,961 shares in the last quarter. Finally, Qsemble Capital Management LP lifted its position in Johnson & Johnson by 275.0% in the 1st quarter. Qsemble Capital Management LP now owns 19,221 shares of the company’s stock valued at $3,041,000 after acquiring an additional 14,096 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $153.28 on Thursday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The business has a fifty day simple moving average of $162.10 and a two-hundred day simple moving average of $156.01. The company has a market capitalization of $369.04 billion, a P/E ratio of 22.18, a P/E/G ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.66 EPS. On average, analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. Johnson & Johnson’s dividend payout ratio is 71.78%.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Guggenheim increased their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Finally, TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

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.