Acorn Financial Advisory Services Inc. ADV Reduces Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Acorn Financial Advisory Services Inc. ADV trimmed its position in Johnson & Johnson (NYSE:JNJGet Rating) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,172 shares of the company’s stock after selling 121 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Johnson & Johnson were worth $740,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of JNJ. Family CFO Inc purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at about $26,000. RE Dickinson Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 163.3% during the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Advanced Research Investment Solutions LLC lifted its position in shares of Johnson & Johnson by 200.0% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 120 shares in the last quarter. Professional Financial Advisors LLC lifted its position in shares of Johnson & Johnson by 47.9% during the 1st quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after buying an additional 68 shares in the last quarter. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at about $38,000. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Down 1.0 %

Shares of Johnson & Johnson stock opened at $163.28 on Thursday. The firm’s 50 day moving average price is $168.25 and its 200-day moving average price is $174.16. The company has a market cap of $429.29 billion, a P/E ratio of 23.77, a PEG ratio of 2.97 and a beta of 0.61. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a return on equity of 36.14% and a net margin of 19.21%. The company had revenue of $24.02 billion for the quarter, compared to analyst estimates of $23.85 billion. During the same period in the prior year, the company posted $2.48 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. The ex-dividend date was Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.77%. Johnson & Johnson’s payout ratio is presently 65.79%.

Johnson & Johnson announced that its board has authorized a stock buyback plan on Wednesday, September 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JNJ shares. Citigroup decreased their target price on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Daiwa Capital Markets started coverage on Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating on the stock. Wells Fargo & Company lifted their target price on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. UBS Group decreased their target price on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Finally, Morgan Stanley reduced their price objective on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

Further Reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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