Johnson & Johnson (NYSE:JNJ) Stock Position Cut by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its stake in Johnson & Johnson (NYSE:JNJ) by 16.3% in the third quarter, HoldingsChannel reports. The fund owned 98,183 shares of the company’s stock after selling 19,067 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Johnson & Johnson were worth $15,865,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Johnson & Johnson in the second quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in Johnson & Johnson in the third quarter worth approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in shares of Johnson & Johnson in the third quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Johnson & Johnson during the third quarter valued at $40,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on JNJ shares. Citigroup cut their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday. Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley lifted their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.73.

Johnson & Johnson Trading Up 0.2 %

Shares of JNJ stock opened at $146.60 on Friday. 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 $352.96 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $156.73 and its two-hundred day moving average is $156.28.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.66 EPS. Equities analysts predict that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were paid a dividend of $1.24 per share. The ex-dividend date was Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.38%. Johnson & Johnson’s payout ratio is 71.78%.

Insider Buying and Selling at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

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.