Novare Capital Management LLC Cuts Position in Johnson & Johnson (NYSE:JNJ)

Novare Capital Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 12.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,305 shares of the company’s stock after selling 16,989 shares during the quarter. Johnson & Johnson accounts for approximately 1.7% of Novare Capital Management LLC’s holdings, making the stock its 17th largest holding. Novare Capital Management LLC’s holdings in Johnson & Johnson were worth $19,821,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $46,000. Grayhawk Investment Strategies Inc. increased its holdings in 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 during the last quarter. Finally, Fairway Wealth LLC increased its holdings in Johnson & Johnson by 217.1% during the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after purchasing an additional 228 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on JNJ. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.31.

Johnson & Johnson Stock Performance

Johnson & Johnson stock traded up $0.06 during mid-day trading on Monday, hitting $161.52. 1,317,063 shares of the company’s stock traded hands, compared to its average volume of 7,010,628. The firm has a 50 day moving average price of $162.59 and a 200 day moving average price of $154.46. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $388.73 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.