Novak & Powell Financial Services Inc. Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Novak & Powell Financial Services Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ) by 20.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,949 shares of the company’s stock after selling 2,037 shares during the quarter. Novak & Powell Financial Services Inc.’s holdings in Johnson & Johnson were worth $1,150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. WealthTrak Capital Management LLC purchased a new position in Johnson & Johnson in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Johnson & Johnson during the fourth quarter worth $29,000. Bay Harbor Wealth Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $32,000. Conquis Financial LLC acquired a new stake in Johnson & Johnson during the 4th quarter worth approximately $33,000. Finally, Bernard Wealth Management Corp. purchased a new position in Johnson & Johnson in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $153.58 on Wednesday. The company’s 50-day moving average is $155.87 and its two-hundred day moving average is $153.80. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a market cap of $369.52 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business had revenue of $21.89 billion for the quarter, compared to analysts’ expectations of $21.65 billion. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Tuesday, May 27th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s payout ratio is 57.84%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. The trade was a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JNJ shares. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $169.00 to $153.00 in a report on Tuesday, May 13th. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Argus raised Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus reduced their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $170.88.

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.