Johnson & Johnson (NYSE:JNJ) Shares Sold by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 47,783 shares of the company’s stock after selling 1,253 shares during the quarter. Johnson & Johnson accounts for about 1.8% of Beacon Harbor Wealth Advisors Inc.’s investment portfolio, making the stock its 18th biggest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Johnson & Johnson were worth $7,924,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in JNJ. Elios Financial Group Inc. raised its holdings in shares of Johnson & Johnson by 1.5% in the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company’s stock valued at $746,000 after purchasing an additional 66 shares in the last quarter. Atlantic Family Wealth LLC raised its holdings in shares of Johnson & Johnson by 4.4% in the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company’s stock valued at $266,000 after purchasing an additional 67 shares in the last quarter. MBA Advisors LLC raised its holdings in shares of Johnson & Johnson by 1.2% in the 1st quarter. MBA Advisors LLC now owns 5,553 shares of the company’s stock valued at $921,000 after purchasing an additional 68 shares in the last quarter. Sovereign Financial Group Inc. raised its stake in Johnson & Johnson by 1.8% during the 1st quarter. Sovereign Financial Group Inc. now owns 3,928 shares of the company’s stock worth $651,000 after acquiring an additional 69 shares in the last quarter. Finally, Nabity Jensen Investment Management Inc raised its stake in Johnson & Johnson by 1.5% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 4,624 shares of the company’s stock worth $767,000 after acquiring an additional 69 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent research reports. Benchmark upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Raymond James Financial lowered their target price on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Finally, Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.50.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $170.72 on Thursday. The company has a market capitalization of $411.14 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The firm has a fifty day simple moving average of $158.53 and a 200-day simple moving average of $157.10. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $172.18.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to the consensus estimate of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. Johnson & Johnson’s payout ratio is currently 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.