Opal Wealth Advisors LLC Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Opal Wealth Advisors LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 38.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,335 shares of the company’s stock after selling 1,444 shares during the period. Opal Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $40,000. WFA Asset Management Corp lifted its position in shares of Johnson & Johnson by 61.4% during the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $44,000. Disciplined Equity Management Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in shares of Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.7 %

Shares of NYSE JNJ traded up $0.97 during trading on Friday, hitting $148.75. 15,176,869 shares of the company traded hands, compared to its average volume of 6,685,153. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a 50-day moving average price of $148.05 and a 200-day moving average price of $154.33. The firm has a market capitalization of $357.99 billion, a P/E ratio of 9.27, a P/E/G ratio of 2.46 and a beta of 0.53. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion during the quarter, compared to analysts’ expectations of $21.39 billion. During the same period in the previous year, the company earned $2.68 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts predict that Johnson & Johnson will post 10.63 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st were issued a dividend of $1.24 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.33%. Johnson & Johnson’s payout ratio is presently 30.92%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group assumed coverage on shares of Johnson & Johnson in a research note on Thursday, May 30th. They set a “neutral” rating and a $160.00 price objective for the company. Bank of America dropped their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Monday, June 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $174.07.

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.