Drake & Associates LLC Sells 7,105 Shares of Johnson & Johnson $JNJ

Drake & Associates LLC decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 32.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,653 shares of the company’s stock after selling 7,105 shares during the quarter. Johnson & Johnson comprises about 0.6% of Drake & Associates LLC’s investment portfolio, making the stock its 29th biggest holding. Drake & Associates LLC’s holdings in Johnson & Johnson were worth $2,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evolution Wealth Management Inc. bought a new position in shares of Johnson & Johnson in the second quarter worth approximately $27,000. Clayton Financial Group LLC purchased a new position in Johnson & Johnson in the 3rd quarter worth approximately $28,000. Semmax Financial Advisors Inc. lifted its position in Johnson & Johnson by 55.0% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock valued at $31,000 after acquiring an additional 72 shares in the last quarter. Compass Financial Services Inc boosted its stake in Johnson & Johnson by 707.1% during the 3rd quarter. Compass Financial Services Inc now owns 226 shares of the company’s stock valued at $42,000 after purchasing an additional 198 shares during the last quarter. Finally, Signature Resources Capital Management LLC increased its holdings in shares of Johnson & Johnson by 262.9% in the 3rd quarter. Signature Resources Capital Management LLC now owns 254 shares of the company’s stock worth $47,000 after purchasing an additional 184 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JNJ shares. Freedom Capital cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Wolfe Research lifted their price target on shares of Johnson & Johnson from $225.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Daiwa Securities Group boosted their price objective on shares of Johnson & Johnson from $203.00 to $237.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. TD Cowen raised their target price on shares of Johnson & Johnson from $222.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Johnson & Johnson in a research note on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.73.

Johnson & Johnson Trading Up 1.1%

Shares of Johnson & Johnson stock opened at $240.97 on Thursday. Johnson & Johnson has a 1-year low of $141.50 and a 1-year high of $241.26. The company’s fifty day simple moving average is $215.57 and its 200-day simple moving average is $195.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $580.56 billion, a PE ratio of 21.81, a P/E/G ratio of 2.31 and a beta of 0.35.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Saturday, January 31st. The company reported $2.46 EPS for the quarter. The company had revenue of $24.28 billion for the quarter. Johnson & Johnson had a return on equity of 33.34% and a net margin of 28.46%. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $5.20 annualized dividend and a yield of 2.2%. Johnson & Johnson’s payout ratio is currently 47.06%.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.