Northwest Wealth Management LLC Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Northwest Wealth Management LLC reduced its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the company’s stock after selling 204 shares during the quarter. Northwest Wealth Management LLC’s holdings in Johnson & Johnson were worth $316,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in JNJ. Mattern Capital Management LLC grew its stake in Johnson & Johnson by 6.9% in the first quarter. Mattern Capital Management LLC now owns 48,191 shares of the company’s stock worth $7,623,000 after purchasing an additional 3,091 shares in the last quarter. Payden & Rygel Investment Group bought a new position in Johnson & Johnson during the 1st quarter worth approximately $14,379,000. Crewe Advisors LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $618,000. Elgethun Capital Management raised its position in shares of Johnson & Johnson by 12.5% during the 1st quarter. Elgethun Capital Management now owns 22,387 shares of the company’s stock valued at $3,513,000 after acquiring an additional 2,487 shares in the last quarter. Finally, Leelyn Smith LLC lifted its stake in Johnson & Johnson by 1.2% during the first quarter. Leelyn Smith LLC now owns 16,515 shares of the company’s stock worth $2,613,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $3.42 during midday trading on Thursday, reaching $159.70. 10,014,267 shares of the company were exchanged, compared to its average volume of 7,340,644. The company’s 50 day moving average price is $148.62 and its two-hundred day moving average price is $153.25. The company has a market cap of $384.35 billion, a P/E ratio of 9.96, a PEG ratio of 2.49 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 debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 earnings per share. On average, sell-side analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

Analyst Ratings Changes

A number of analysts have weighed in on JNJ shares. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. TD Securities lowered their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 30th. Finally, Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.00.

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.