Arete Wealth Advisors LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Arete Wealth Advisors LLC lessened its stake in Johnson & Johnson (NYSE:JNJ) by 17.8% in the third quarter, HoldingsChannel reports. The firm owned 15,665 shares of the company’s stock after selling 3,392 shares during the period. Arete Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $2,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in shares of Johnson & Johnson in the 3rd quarter worth $242,000. Financial Avengers Inc. boosted its position in Johnson & Johnson by 3.0% in the third quarter. Financial Avengers Inc. now owns 43,472 shares of the company’s stock worth $7,045,000 after purchasing an additional 1,276 shares during the last quarter. Coldstream Capital Management Inc. increased its position in shares of Johnson & Johnson by 13.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 48,184 shares of the company’s stock valued at $7,782,000 after purchasing an additional 5,797 shares during the last quarter. Strait & Sound Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 5.0% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 10,426 shares of the company’s stock worth $1,690,000 after purchasing an additional 499 shares during the period. Finally, JDM Financial Group LLC boosted its holdings in shares of Johnson & Johnson by 63.8% in the third quarter. JDM Financial Group LLC now owns 462 shares of the company’s stock worth $75,000 after buying an additional 180 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 0.2 %

JNJ opened at $149.26 on Wednesday. Johnson & Johnson has a 52 week low of $143.13 and a 52 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 firm has a 50-day simple moving average of $157.84 and a two-hundred day simple moving average of $156.40. The company has a market capitalization of $359.35 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.66 and a beta of 0.51.

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

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.32%. Johnson & Johnson’s payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Bank of America reiterated a “neutral” rating and issued a $166.00 price target on shares of Johnson & Johnson in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Royal Bank of Canada lifted their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Guggenheim increased 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. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.40.

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.