Belmont Capital LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Belmont Capital LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 79.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,981 shares of the company’s stock after selling 7,679 shares during the period. Belmont Capital LLC’s holdings in Johnson & Johnson were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JNJ. Summit Wealth Partners LLC lifted its position in shares of Johnson & Johnson by 0.6% during the second quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after purchasing an additional 61 shares in the last quarter. Powers Advisory Group LLC lifted its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after buying an additional 61 shares in the last quarter. Citizens & Northern Corp boosted its position in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Eagle Wealth Strategies LLC grew its stake in shares of Johnson & Johnson by 2.8% during the third quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock valued at $372,000 after acquiring an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC lifted its stake in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Up 0.5 %

Shares of NYSE:JNJ opened at $154.77 on Tuesday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market cap of $372.63 billion, a PE ratio of 22.40, a P/E/G ratio of 2.74 and a beta of 0.53. The company’s 50-day moving average price is $161.11 and its 200 day moving average price is $156.16.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data 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 business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the previous year, the firm posted $2.66 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Analyst Ratings Changes

JNJ has been the topic of several analyst reports. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Citigroup upped their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley boosted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.