Arete Wealth Advisors LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,665 shares of the company's stock after selling 3,392 shares during the period. Arete Wealth Advisors LLC's holdings in Johnson & Johnson were worth $2,531,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of Johnson & Johnson during the 3rd quarter valued at $242,000. Financial Avengers Inc. raised its holdings in shares of Johnson & Johnson by 3.0% during the 3rd quarter. Financial Avengers Inc. now owns 43,472 shares of the company's stock valued at $7,045,000 after buying an additional 1,276 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Johnson & Johnson by 13.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 48,184 shares of the company's stock worth $7,782,000 after buying an additional 5,797 shares during the last quarter. Strait & Sound Wealth Management LLC boosted its stake in Johnson & Johnson by 5.0% in the third quarter. Strait & Sound Wealth Management LLC now owns 10,426 shares of the company's stock worth $1,690,000 after buying an additional 499 shares in the last quarter. Finally, JDM Financial Group LLC grew its position in Johnson & Johnson by 63.8% during the third quarter. JDM Financial Group LLC now owns 462 shares of the company's stock valued at $75,000 after acquiring an additional 180 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.
Several research firms have recently commented on JNJ. Citigroup lifted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Finally, Guggenheim boosted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $175.40.
View Our Latest Stock Report on JNJ
NYSE JNJ opened at $149.26 on Wednesday. The stock has a market cap of $359.35 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.66 and a beta of 0.51. The stock's fifty day moving average price is $157.84 and its 200-day moving average price is $156.40. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business's revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.66 earnings per share. As a group, equities analysts forecast that Johnson & Johnson will post 9.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Tuesday, November 26th. Johnson & Johnson's dividend payout ratio is currently 71.78%.
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.
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