Alley Investment Management Company LLC Reduces Stake in Johnson & Johnson (NYSE:JNJ)

Alley Investment Management Company LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,127 shares of the company’s stock after selling 135 shares during the quarter. Alley Investment Management Company LLC’s holdings in Johnson & Johnson were worth $653,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of JNJ. BKM Wealth Management LLC bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $1,951,000. Sunflower Bank N.A. lifted its stake in shares of Johnson & Johnson by 3.3% during the 4th quarter. Sunflower Bank N.A. now owns 10,556 shares of the company’s stock valued at $1,655,000 after buying an additional 341 shares in the last quarter. Consilio Wealth Advisors LLC boosted its holdings in Johnson & Johnson by 25.0% in the 4th quarter. Consilio Wealth Advisors LLC now owns 1,785 shares of the company’s stock worth $280,000 after buying an additional 357 shares during the period. RDA Financial Network increased its stake in Johnson & Johnson by 7.0% in the 4th quarter. RDA Financial Network now owns 5,615 shares of the company’s stock worth $880,000 after buying an additional 368 shares in the last quarter. Finally, Fortress Wealth Group LLC lifted its position in shares of Johnson & Johnson by 7.7% in the fourth quarter. Fortress Wealth Group LLC now owns 6,635 shares of the company’s stock valued at $1,072,000 after acquiring an additional 476 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 1.3 %

Shares of JNJ traded down $1.96 during trading hours on Tuesday, reaching $152.28. 2,585,454 shares of the company traded hands, compared to its average volume of 7,298,143. The firm has a market cap of $366.49 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 2.85 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 stock’s fifty day moving average price is $148.42 and its 200 day moving average price is $153.24. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.79%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.80 EPS. Sell-side analysts forecast that Johnson & Johnson will post 10.07 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, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. 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. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Monday, July 1st. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.00.

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.