Ellis Investment Partners LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Ellis Investment Partners LLC cut its position in Johnson & Johnson (NYSE:JNJGet Rating) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,093 shares of the company’s stock after selling 61 shares during the period. Ellis Investment Partners LLC’s holdings in Johnson & Johnson were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Sterling Investment Advisors Ltd. boosted its stake in shares of Johnson & Johnson by 2.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 58,608 shares of the company’s stock worth $10,387,000 after acquiring an additional 1,620 shares during the last quarter. Bray Capital Advisors boosted its stake in shares of Johnson & Johnson by 0.4% in the first quarter. Bray Capital Advisors now owns 28,296 shares of the company’s stock worth $5,015,000 after acquiring an additional 126 shares during the last quarter. Leo Brokerage LLC acquired a new stake in shares of Johnson & Johnson in the first quarter worth approximately $53,303,000. Fusion Capital LLC boosted its stake in shares of Johnson & Johnson by 7.8% in the first quarter. Fusion Capital LLC now owns 27,844 shares of the company’s stock worth $4,935,000 after acquiring an additional 2,019 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Johnson & Johnson by 0.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,545,930 shares of the company’s stock valued at $273,985,000 after buying an additional 3,989 shares in the last quarter. 68.78% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $173.91 on Tuesday. The business’s 50 day simple moving average is $175.84 and its 200-day simple moving average is $174.50. The firm has a market capitalization of $457.63 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 3.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 1.14. Johnson & Johnson has a 12 month low of $155.72 and a 12 month high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.02. The firm had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a return on equity of 36.56% and a net margin of 19.21%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.48 EPS. As a group, equities analysts forecast that Johnson & Johnson will post 10.05 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd will be issued a $1.13 dividend. The ex-dividend date is Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.60%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.

Insider Activity

In other news, CAO Robert J. Decker sold 8,462 shares of the business’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following the completion of the sale, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,785,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,336,803. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert J. Decker sold 8,462 shares of the company’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $180.00, for a total transaction of $1,523,160.00. Following the sale, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at $2,785,140. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JNJ shares. Credit Suisse Group boosted their price target on shares of Johnson & Johnson from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. SVB Leerink reduced their target price on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group lifted their price target on shares of Johnson & Johnson from $163.00 to $181.00 and gave the company a “neutral” rating in a research report on Tuesday, April 12th. UBS Group dropped their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $189.89.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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