Lokken Investment Group LLC Decreases Holdings in Johnson & Johnson (NYSE:JNJ)

Lokken Investment Group LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 41.2% during the first quarter, HoldingsChannel reports. The firm owned 8,936 shares of the company’s stock after selling 6,263 shares during the period. Lokken Investment Group LLC’s holdings in Johnson & Johnson were worth $1,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of Johnson & Johnson by 13.9% during the fourth quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after acquiring an additional 6,332 shares during the last quarter. Hudson Value Partners LLC grew its stake in Johnson & Johnson by 2.5% during the 4th quarter. Hudson Value Partners LLC now owns 41,403 shares of the company’s stock valued at $5,648,000 after purchasing an additional 1,022 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Johnson & Johnson by 22.0% during the 4th quarter. Proficio Capital Partners LLC now owns 19,951 shares of the company’s stock valued at $2,885,000 after buying an additional 3,594 shares during the last quarter. IMG Wealth Management Inc. purchased a new position in shares of Johnson & Johnson during the 4th quarter valued at approximately $483,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Johnson & Johnson by 7.6% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 9,509 shares of the company’s stock valued at $1,375,000 after buying an additional 668 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price target for the company from $157.00 to $172.00 in a report on Wednesday, April 9th. Bank of America decreased their price target on Johnson & Johnson from $171.00 to $159.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a research note on Wednesday, April 2nd. Raymond James Financial reduced their target price on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Leerink Partners lowered Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned 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 target price of $171.00.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $156.91 on Tuesday. The company has a market cap of $377.55 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. The firm has a fifty day moving average of $153.79 and a 200-day moving average of $154.63. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $169.99. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly 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 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. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

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.