Wealth Alliance Sells 852 Shares of Johnson & Johnson (NYSE:JNJ)

Wealth Alliance cut its stake in Johnson & Johnson (NYSE:JNJ) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,959 shares of the company’s stock after selling 852 shares during the quarter. Wealth Alliance’s holdings in Johnson & Johnson were worth $1,602,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Financial & Tax Architects LLC increased its position in Johnson & Johnson by 11.9% during the second quarter. Financial & Tax Architects LLC now owns 39,362 shares of the company’s stock worth $5,753,000 after acquiring an additional 4,189 shares during the period. Cranbrook Wealth Management LLC increased its position in Johnson & Johnson by 157.0% during the second quarter. Cranbrook Wealth Management LLC now owns 4,847 shares of the company’s stock worth $708,000 after acquiring an additional 2,961 shares during the period. Axxcess Wealth Management LLC increased its position in Johnson & Johnson by 1.1% during the second quarter. Axxcess Wealth Management LLC now owns 98,318 shares of the company’s stock worth $14,370,000 after acquiring an additional 1,114 shares during the period. Fairway Wealth LLC increased its position in Johnson & Johnson by 217.1% during the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares during the period. Finally, Firestone Capital Management increased its position in Johnson & Johnson by 1.7% during the second quarter. Firestone Capital Management now owns 4,540 shares of the company’s stock worth $664,000 after acquiring an additional 76 shares during the period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on JNJ shares. TD Cowen lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. The Goldman Sachs Group reduced their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Up 0.0 %

NYSE:JNJ opened at $167.07 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm’s 50 day simple moving average is $160.38 and its 200 day simple moving average is $154.01. The company has a market cap of $402.08 billion, a PE ratio of 10.42, a P/E/G ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter last year, the business earned $2.80 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.97%. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.