RBA Wealth Management LLC Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

RBA Wealth Management LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 15.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,525 shares of the company’s stock after selling 277 shares during the quarter. RBA Wealth Management LLC’s holdings in Johnson & Johnson were worth $247,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Meridian Financial Partners LLC purchased a new stake in Johnson & Johnson during the 2nd quarter valued at about $1,626,000. Summit Financial Wealth Advisors LLC boosted its holdings in Johnson & Johnson by 26.3% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after acquiring an additional 1,122 shares during the period. Franklin Parlapiano Turner & Welch LLC boosted its holdings in Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after acquiring an additional 325 shares during the period. Capital Asset Advisory Services LLC boosted its holdings in Johnson & Johnson by 8.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after acquiring an additional 2,151 shares during the period. Finally, NTV Asset Management LLC raised its position in Johnson & Johnson by 1.6% during the 1st quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after purchasing an additional 565 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on JNJ shares. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Finally, Citigroup increased their target price on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.93.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’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 transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $163.45 on Wednesday. The business’s fifty day simple moving average is $163.14 and its two-hundred day simple moving average is $154.84. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a market cap of $393.37 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 2.65 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business posted $2.66 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.03%. Johnson & Johnson’s dividend payout ratio (DPR) 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.