Birchcreek Wealth Management LLC Sells 421 Shares of Johnson & Johnson (NYSE:JNJ)

Birchcreek Wealth Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,821 shares of the company’s stock after selling 421 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Johnson & Johnson were worth $781,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Innealta Capital LLC purchased a new position in Johnson & Johnson during the 2nd quarter worth $27,000. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares during the period. Morton Brown Family Wealth LLC increased its position in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after buying an additional 200 shares during the period. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Johnson & Johnson during the second quarter valued at about $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on 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 approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $0.44 on Friday, hitting $152.31. 974,852 shares of the company’s stock were exchanged, compared to its average volume of 6,970,621. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The firm’s 50-day moving average price is $161.56 and its two-hundred day moving average price is $155.97. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The firm has a market cap of $366.70 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 2.72 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.26%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on JNJ shares. Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. The Goldman Sachs Group cut their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Royal Bank of Canada increased their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

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.