Pacific Wealth Strategies Group Inc. Trims Stake in Johnson & Johnson (NYSE:JNJ)

Pacific Wealth Strategies Group Inc. trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJFree Report) by 18.8% in the first quarter, Holdings Channel reports. The firm owned 1,952 shares of the company’s stock after selling 451 shares during the period. Pacific Wealth Strategies Group Inc.’s holdings in Johnson & Johnson were worth $309,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in Johnson & Johnson during the third quarter worth about $2,854,000. Quantum Financial Advisors LLC grew its stake in shares of Johnson & Johnson by 18.2% in the third quarter. Quantum Financial Advisors LLC now owns 4,060 shares of the company’s stock worth $632,000 after acquiring an additional 626 shares in the last quarter. Scarborough Advisors LLC increased its position in shares of Johnson & Johnson by 17.5% during the third quarter. Scarborough Advisors LLC now owns 1,441 shares of the company’s stock worth $224,000 after acquiring an additional 215 shares during the period. Fidelity D & D Bancorp Inc. acquired a new stake in shares of Johnson & Johnson in the third quarter valued at $659,000. Finally, Fortis Group Advisors LLC boosted its holdings in Johnson & Johnson by 26.3% in the third quarter. Fortis Group Advisors LLC now owns 2,498 shares of the company’s stock valued at $388,000 after purchasing an additional 520 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JNJ shares. Morgan Stanley reduced their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on shares of Johnson & Johnson in a report on Thursday, May 30th. They set a “neutral” rating and a $160.00 price target for the company. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America dropped their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, July 1st. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.07.

Read Our Latest Report on Johnson & Johnson

Johnson & Johnson Stock Up 1.1 %

JNJ stock opened at $147.05 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 0.94. The company has a market cap of $353.90 billion, a price-to-earnings ratio of 9.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a fifty day moving average price of $147.96 and a 200 day moving average price of $153.59.

Johnson & Johnson (NYSE:JNJGet Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.70% and a net margin of 45.26%. The firm had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the business earned $2.68 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Johnson & Johnson will post 10.62 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, May 20th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

About Johnson & Johnson

(Free Report)

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.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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