Edgemoor Investment Advisors Inc. Sells 145 Shares of Johnson & Johnson (NYSE:JNJ)

Edgemoor Investment Advisors Inc. reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,983 shares of the company’s stock after selling 145 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Johnson & Johnson were worth $1,822,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $29,000. Conquis Financial LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $33,000. Bernard Wealth Management Corp. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $36,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Johnson & Johnson during the fourth quarter worth about $38,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of research reports. Bank of America increased their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays increased their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wall Street Zen lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Leerink Partnrs lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Finally, Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $169.00 to $153.00 in a research report on Tuesday, May 13th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.87.

Johnson & Johnson Stock Up 0.4%

Shares of NYSE JNJ opened at $163.65 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The firm’s fifty day moving average is $154.29 and its 200 day moving average is $155.12. The company has a market cap of $393.75 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.08 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. Johnson & Johnson had a net margin of 25.00% and a return on equity of 33.07%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.82 earnings per share. On average, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 55.61%.

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.