Accordant Advisory Group Inc Sells 8,882 Shares of Johnson & Johnson (NYSE:JNJ)

Accordant Advisory Group Inc cut its holdings in Johnson & Johnson (NYSE:JNJ) by 82.1% during the 1st quarter, Holdings Channel reports. The firm owned 1,931 shares of the company’s stock after selling 8,882 shares during the period. Johnson & Johnson makes up approximately 0.3% of Accordant Advisory Group Inc’s investment portfolio, making the stock its 28th biggest position. Accordant Advisory Group Inc’s holdings in Johnson & Johnson were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. WealthTrak Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new stake in Johnson & Johnson during the 4th quarter valued at approximately $29,000. Conquis Financial LLC purchased a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $33,000. Bernard Wealth Management Corp. bought a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $36,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $156.61 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company has a market capitalization of $376.82 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The firm has a 50 day moving average of $153.69 and a 200 day moving average of $153.71. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43.

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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 dividend on an annualized basis and a yield of 3.32%. Johnson & Johnson’s payout ratio is 57.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on JNJ shares. Bank of America dropped their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Morgan Stanley upped their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 16th. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $169.00 to $153.00 in a research note on Tuesday, May 13th. Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Wall Street Zen cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.