Centric Wealth Management Sells 137 Shares of Johnson & Johnson (NYSE:JNJ)

Centric Wealth Management reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,438 shares of the company’s stock after selling 137 shares during the period. Centric Wealth Management’s holdings in Johnson & Johnson were worth $543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Providence Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 1.5% in the 3rd quarter. Providence Wealth Advisors LLC now owns 9,585 shares of the company’s stock worth $1,569,000 after buying an additional 145 shares during the last quarter. Isthmus Partners LLC boosted its holdings in Johnson & Johnson by 1.8% in the third quarter. Isthmus Partners LLC now owns 97,495 shares of the company’s stock worth $15,800,000 after acquiring an additional 1,765 shares in the last quarter. Suvretta Capital Management LLC increased its holdings in shares of Johnson & Johnson by 53.7% during the third quarter. Suvretta Capital Management LLC now owns 138,447 shares of the company’s stock valued at $22,437,000 after acquiring an additional 48,350 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth about $149,000. Finally, Pin Oak Investment Advisors Inc. grew its position in Johnson & Johnson by 1.2% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 6,895 shares of the company’s stock valued at $1,117,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.40 on Friday. The firm has a 50-day moving average of $159.33 and a two-hundred day moving average of $156.38. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. 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 $374.14 billion, a price-to-earnings ratio of 22.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued 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 3.19%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Citigroup boosted their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Wells Fargo & Company increased their price target on Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.94.

Johnson & Johnson Company 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.