Burney Co. Sells 1,235 Shares of Johnson & Johnson (NYSE:JNJ)

Burney Co. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 3.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,940 shares of the company’s stock after selling 1,235 shares during the period. Burney Co.’s holdings in Johnson & Johnson were worth $5,960,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JNJ. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $26,000. Conquis Financial LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $33,000. Bernard Wealth Management Corp. purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at $36,000. Highline Wealth Partners LLC lifted its stake 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 in the last quarter. Finally, von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on JNJ shares. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Leerink Partnrs downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. Bank of America increased their price objective on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada raised their target price on shares of Johnson & Johnson from $181.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $172.87.

Johnson & Johnson Trading Up 2.2%

Shares of NYSE:JNJ opened at $167.90 on Wednesday. The stock has a 50 day moving average of $154.29 and a 200 day moving average of $155.12. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a market cap of $403.99 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 2.09 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.68 by $0.09. The firm had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. Johnson & Johnson’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.82 EPS. As a group, equities research analysts expect 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. Investors 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 3.10%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

About Johnson & Johnson

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.