Fortitude Advisory Group L.L.C. Has $489,000 Holdings in Johnson & Johnson (NYSE:JNJ)

Fortitude Advisory Group L.L.C. reduced its position in Johnson & Johnson (NYSE:JNJ) by 4.1% during the first quarter, HoldingsChannel reports. The firm owned 3,178 shares of the company’s stock after selling 135 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Johnson & Johnson were worth $489,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in JNJ. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson during the 4th quarter worth $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth about $29,000. Conquis Financial LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the fourth quarter worth $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in Johnson & Johnson during the 4th quarter valued at about $38,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Trading Down 1.8%

Shares of NYSE JNJ opened at $152.38 on Wednesday. The company has a market cap of $366.65 billion, a PE ratio of 16.95, a P/E/G ratio of 2.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The firm’s 50 day moving average price is $154.03 and its 200-day moving average price is $153.69. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. On average, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were paid a dividend of $1.30 per share. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a yield of 3.41%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Analyst Ratings Changes

A number of brokerages have weighed in on JNJ. Barclays decreased their target price on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Leerink Partnrs downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Bank of America lowered their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Benchmark raised Johnson & Johnson to a “strong-buy” rating in a research report on Thursday, April 24th. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.88.

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.