Kovack Advisors Inc. Sells 2,315 Shares of Johnson & Johnson (NYSE:JNJ)

Kovack Advisors Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.0% in the third quarter, HoldingsChannel.com reports. The fund owned 30,673 shares of the company’s stock after selling 2,315 shares during the period. Kovack Advisors Inc.’s holdings in Johnson & Johnson were worth $4,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Meridian Financial Partners LLC bought a new stake in Johnson & Johnson in the 2nd quarter worth approximately $1,626,000. Lmcg Investments LLC boosted its stake in shares of Johnson & Johnson by 32.7% in the 3rd quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock valued at $14,125,000 after purchasing an additional 21,471 shares in the last quarter. WealthPlan Investment Management LLC raised its position in Johnson & Johnson by 7.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 61,691 shares of the company’s stock worth $9,998,000 after purchasing an additional 4,174 shares during the period. Cooper Haims Advisors LLC lifted its stake in Johnson & Johnson by 6.4% in the first quarter. Cooper Haims Advisors LLC now owns 3,358 shares of the company’s stock worth $531,000 after purchasing an additional 201 shares during the last quarter. Finally, Trajan Wealth LLC boosted its position in Johnson & Johnson by 11.3% during the third quarter. Trajan Wealth LLC now owns 32,992 shares of the company’s stock valued at $5,347,000 after buying an additional 3,341 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ opened at $153.28 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a market cap of $369.04 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The stock has a fifty day simple moving average of $162.10 and a two-hundred day simple moving average of $156.01. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the previous year, the firm posted $2.66 earnings per share. Johnson & Johnson’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts predict that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Wall Street Analyst Weigh In

JNJ has been the topic of several analyst reports. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. TD Cowen cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Royal Bank of Canada upped their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $175.00.

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.