Horizon Wealth Management LLC Sells 282 Shares of Johnson & Johnson (NYSE:JNJ)

Horizon Wealth Management LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 16.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,475 shares of the company’s stock after selling 282 shares during the period. Horizon Wealth Management LLC’s holdings in Johnson & Johnson were worth $216,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of JNJ. Pathway Financial Advisors LLC raised its holdings in Johnson & Johnson by 4.3% during the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock worth $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Johnson & Johnson by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after purchasing an additional 15,490 shares in the last quarter. Drive Wealth Management LLC increased its position in Johnson & Johnson by 4.5% in the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock valued at $1,523,000 after buying an additional 414 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its stake in Johnson & Johnson by 12.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock worth $3,070,000 after buying an additional 2,201 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Johnson & Johnson by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the subject of a number of analyst reports. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Securities reduced their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen dropped their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Up 0.2 %

Shares of NYSE:JNJ traded up $0.30 on Wednesday, hitting $160.46. 440,134 shares of the company traded hands, compared to its average volume of 7,279,856. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $167.84. 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 stock has a 50 day simple moving average of $152.89 and a 200-day simple moving average of $153.09. The company has a market cap of $386.18 billion, a PE ratio of 9.99, a PEG ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 EPS. As a group, research analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.09%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.