Independent Wealth Network Inc. Sells 510 Shares of Johnson & Johnson (NYSE:JNJ)

Independent Wealth Network Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 10.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,164 shares of the company’s stock after selling 510 shares during the quarter. Independent Wealth Network Inc.’s holdings in Johnson & Johnson were worth $691,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Johnson & Johnson by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares during the period. Geode Capital Management LLC raised its position in shares of Johnson & Johnson by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 57,667,920 shares of the company’s stock worth $8,321,881,000 after purchasing an additional 1,561,036 shares during the period. Northern Trust Corp raised its position in shares of Johnson & Johnson by 12.3% during the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock worth $4,456,201,000 after purchasing an additional 3,363,235 shares during the period. Norges Bank acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth about $4,390,037,000. Finally, Wellington Management Group LLP raised its position in shares of Johnson & Johnson by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 24,356,572 shares of the company’s stock worth $3,522,447,000 after purchasing an additional 431,205 shares during the period. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Raymond James Financial lowered their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Wall Street Zen raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $174.11.

Johnson & Johnson Stock Performance

JNJ opened at $163.04 on Friday. The business has a fifty day simple moving average of $154.10 and a 200 day simple moving average of $154.84. The company has a market capitalization of $392.28 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.26 and a quick ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The firm had revenue of $23.74 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period in the prior year, the company posted $2.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s payout ratio is 55.61%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.