Johnson & Johnson (NYSE:JNJ) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,528 shares of the company’s stock after selling 2,521 shares during the quarter. Johnson & Johnson makes up approximately 1.8% of Tower Bridge Advisors’ portfolio, making the stock its 11th biggest position. Tower Bridge Advisors’ holdings in Johnson & Johnson were worth $16,008,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Conquis Financial LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $33,000. Bernard Wealth Management Corp. purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $36,000. Highline Wealth Partners LLC lifted its holdings in shares of Johnson & Johnson by 51.8% in the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after purchasing an additional 86 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays boosted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Benchmark upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Wall Street Zen cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 18th. Bank of America boosted their price target on Johnson & Johnson from $161.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their price target on Johnson & Johnson from $181.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.50.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $168.03 on Wednesday. The company has a market cap of $404.29 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a 50 day simple moving average of $156.65 and a 200-day simple moving average of $156.22. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Johnson & Johnson’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.82 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio is presently 55.61%.

Johnson & Johnson Company 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.