Symphony Financial Ltd. Co. Cuts Stake in Johnson & Johnson (NYSE:JNJ)

Symphony Financial Ltd. Co. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 78.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,547 shares of the company’s stock after selling 27,828 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Johnson & Johnson were worth $1,191,000 at the end of the most recent quarter.

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

Johnson & Johnson Price Performance

JNJ stock opened at $152.27 on Wednesday. The business’s fifty day moving average price is $153.99 and its 200 day moving average price is $153.68. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $169.99. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $366.36 billion, a PE ratio of 16.94, a P/E/G ratio of 2.29 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.59 by $0.18. Johnson & Johnson had a net margin of 24.42% and a return on equity of 33.46%. The company had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Tuesday, May 27th. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio (DPR) is currently 57.84%.

Analyst Ratings Changes

Several equities research analysts have commented on JNJ shares. Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a report on Thursday, April 24th. Sanford C. Bernstein restated a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. Leerink Partnrs lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $164.00 to $169.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 16th. Finally, Barclays lowered their price objective on Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently 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.