Edgestream Partners L.P. Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Edgestream Partners L.P. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 71.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,151 shares of the company’s stock after selling 51,636 shares during the quarter. Edgestream Partners L.P.’s holdings in Johnson & Johnson were worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lynx Investment Advisory purchased a new position in shares of Johnson & Johnson during the second quarter worth approximately $210,000. Sage Capital Advisors llc raised its stake in shares of Johnson & Johnson by 0.7% during the second quarter. Sage Capital Advisors llc now owns 42,785 shares of the company’s stock worth $6,254,000 after acquiring an additional 292 shares in the last quarter. Eastover Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 2.3% during the second quarter. Eastover Investment Advisors LLC now owns 38,982 shares of the company’s stock worth $5,693,000 after acquiring an additional 878 shares in the last quarter. Olistico Wealth LLC grew its holdings in shares of Johnson & Johnson by 2.9% in the second quarter. Olistico Wealth LLC now owns 3,584 shares of the company’s stock worth $524,000 after purchasing an additional 100 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of Johnson & Johnson by 32.4% in the second quarter. Kingswood Wealth Advisors LLC now owns 29,557 shares of the company’s stock worth $4,320,000 after purchasing an additional 7,227 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Guggenheim raised their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Wolfe Research began coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average price target of $175.67.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $155.01 on Monday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The business has a 50-day simple moving average of $159.15 and a two-hundred day simple moving average of $156.46. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The firm has a market cap of $373.21 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.75 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating 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 firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the prior year, the firm earned $2.66 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

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.