Edgestream Partners L.P. Sells 63,615 Shares of Johnson & Johnson $JNJ

Edgestream Partners L.P. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 70.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,411 shares of the company’s stock after selling 63,615 shares during the period. Edgestream Partners L.P.’s holdings in Johnson & Johnson were worth $4,034,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Clark Asset Management LLC grew its holdings in shares of Johnson & Johnson by 51.6% in the second quarter. Clark Asset Management LLC now owns 8,884 shares of the company’s stock valued at $1,357,000 after acquiring an additional 3,025 shares in the last quarter. Apexium Financial LP boosted its position in Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock worth $3,978,000 after purchasing an additional 2,310 shares during the last quarter. Avanza Fonder AB grew its stake in Johnson & Johnson by 2.9% in the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock valued at $35,842,000 after purchasing an additional 6,566 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Johnson & Johnson by 7.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock valued at $12,164,000 after purchasing an additional 4,816 shares during the period. Finally, Klingman & Associates LLC increased its position in shares of Johnson & Johnson by 13.4% during the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock valued at $2,817,000 after purchasing an additional 2,005 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $205.36 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $207.81. The company has a fifty day moving average of $193.11 and a 200-day moving average of $174.71. The stock has a market capitalization of $494.77 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 2.29 and a beta of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The business had revenue of $24.02 billion during the quarter. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on JNJ shares. Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Citigroup lifted their target price on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a report on Monday, October 20th. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Raymond James Financial increased their target price on Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $202.10.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.