Fountainhead AM LLC Sells 66 Shares of Johnson & Johnson (NYSE:JNJ)

Fountainhead AM LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,450 shares of the company’s stock after selling 66 shares during the period. Fountainhead AM LLC’s holdings in Johnson & Johnson were worth $397,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of JNJ. WCM Investment Management LLC raised its holdings in Johnson & Johnson by 341.3% in the 3rd quarter. WCM Investment Management LLC now owns 12,166 shares of the company’s stock valued at $1,964,000 after buying an additional 9,409 shares during the last quarter. FDx Advisors Inc. increased its position in Johnson & Johnson by 23.4% in the 3rd quarter. FDx Advisors Inc. now owns 3,780 shares of the company’s stock valued at $613,000 after acquiring an additional 718 shares during the period. Lynx Investment Advisory lifted its holdings in shares of Johnson & Johnson by 29.5% during the third quarter. Lynx Investment Advisory now owns 1,859 shares of the company’s stock worth $301,000 after purchasing an additional 423 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of Johnson & Johnson by 18.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 38,282 shares of the company’s stock worth $6,204,000 after purchasing an additional 6,033 shares during the last quarter. Finally, Laffer Tengler Investments Inc. raised its position in Johnson & Johnson by 1.9% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 60,652 shares of the company’s stock worth $9,829,000 after purchasing an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Citigroup upped their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $175.00.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $155.05 on Tuesday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market cap of $373.30 billion, a P/E ratio of 22.44, a P/E/G ratio of 2.76 and a beta of 0.53. The company’s 50 day moving average price is $162.61 and its two-hundred day moving average price is $155.91. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

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

Johnson & Johnson Dividend Announcement

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

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by company insiders.

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.