Balentine LLC Has $801,000 Stake in Johnson & Johnson (NYSE:JNJ)

Balentine LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,833 shares of the company’s stock after selling 799 shares during the period. Balentine LLC’s holdings in Johnson & Johnson were worth $801,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of JNJ. WealthTrak Capital Management LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $29,000. Conquis Financial LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $38,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $163.65 on Friday. 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. The company’s 50-day moving average is $154.29 and its 200 day moving average is $154.97. The stock has a market capitalization of $393.75 billion, a P/E ratio of 17.50, a P/E/G ratio of 2.18 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.82 earnings per share. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 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, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s payout ratio is 55.61%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their price target for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Leerink Partnrs lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Barclays lifted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Bank of America lifted their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $172.87.

Johnson & Johnson Profile

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.