Edgestream Partners L.P. Has $3.27 Million Stake in Johnson & Johnson (NYSE:JNJ)

Edgestream Partners L.P. lowered its position in Johnson & Johnson (NYSE:JNJ) by 71.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,151 shares of the company’s stock after selling 51,636 shares during the quarter. Edgestream Partners L.P.’s holdings in Johnson & Johnson were worth $3,266,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Johnson & Johnson during the second quarter worth about $27,000. Highline Wealth Partners LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at about $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $155.01 on Monday. The firm has a 50-day moving average of $159.15 and a 200-day moving average of $156.46. The company has a market cap of $373.21 billion, a P/E ratio of 22.43, a P/E/G ratio of 2.75 and a beta of 0.53. 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 one year low of $143.13 and a one year high of $168.85.

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

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.20%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Analyst Ratings Changes

A number of research firms have recently weighed in on JNJ. Wolfe Research began coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Morgan Stanley boosted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.67.

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.