Johnson & Johnson (NYSE:JNJ) Position Lessened by Sky Investment Group LLC

Sky Investment Group LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,674 shares of the company’s stock after selling 1,238 shares during the period. Johnson & Johnson comprises approximately 2.0% of Sky Investment Group LLC’s portfolio, making the stock its 11th biggest holding. Sky Investment Group LLC’s holdings in Johnson & Johnson were worth $10,330,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of JNJ. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson in the first quarter valued at about $31,000. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson during the fourth quarter valued at approximately $40,000. WFA Asset Management Corp boosted its holdings in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in Johnson & Johnson during the fourth quarter valued at approximately $44,000. Finally, Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson during the fourth quarter valued at approximately $45,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on JNJ shares. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $169.00 to $170.00 in a report on Thursday, April 18th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. TD Securities dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. TD Cowen dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Trading Up 0.2 %

Shares of JNJ traded up $0.29 during trading hours on Thursday, reaching $158.77. The stock had a trading volume of 1,464,231 shares, compared to its average volume of 7,318,511. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.39. The firm has a 50-day moving average of $151.88 and a 200 day moving average of $153.10. The company has a market cap of $382.11 billion, a P/E ratio of 9.85, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

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.