Johnson & Johnson (NYSE:JNJ) Shares Sold by Centric Wealth Management

Centric Wealth Management reduced its stake in Johnson & Johnson (NYSE:JNJ) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,438 shares of the company’s stock after selling 137 shares during the period. Centric Wealth Management’s holdings in Johnson & Johnson were worth $543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter valued at about $31,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson during the third quarter worth about $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after purchasing an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new position in shares of Johnson & Johnson during the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $155.40 on Friday. The company’s fifty day moving average price is $159.33 and its 200 day moving average price is $156.38. The firm has a market capitalization of $374.14 billion, a P/E ratio of 22.49, a P/E/G ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

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

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. 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. Citigroup upped their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.