Johnson & Johnson $JNJ Position Lowered by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV trimmed its position in Johnson & Johnson (NYSE:JNJ) by 16.9% in the second quarter, Holdings Channel reports. The firm owned 1,461 shares of the company’s stock after selling 297 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Johnson & Johnson were worth $223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nuveen LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $1,369,188,000. Bank of New York Mellon Corp boosted its stake in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Pacer Advisors Inc. grew its stake in Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after buying an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Johnson & Johnson by 159.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Johnson & Johnson in the second quarter worth $401,420,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

JNJ opened at $190.96 on Thursday. The stock has a fifty day moving average price of $179.68 and a 200 day moving average price of $164.34. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.40. The stock has a market cap of $459.90 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. Analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of research reports. Citigroup boosted their target price on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $209.00 price objective on shares of Johnson & Johnson in a research report on Friday, October 10th. Sanford C. Bernstein increased their target price on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a report on Monday, October 6th. Stifel Nicolaus lifted their price target on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $199.59.

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.