Beacon Harbor Wealth Advisors Inc. Sells 4,345 Shares of Johnson & Johnson $JNJ

Beacon Harbor Wealth Advisors Inc. lowered its stake in Johnson & Johnson (NYSE:JNJ) by 9.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 43,438 shares of the company’s stock after selling 4,345 shares during the period. Johnson & Johnson makes up 1.7% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 26th largest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in Johnson & Johnson were worth $6,635,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. GFG Capital LLC bought a new stake in Johnson & Johnson in the 2nd quarter valued at $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the first quarter worth $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson in the first quarter valued at about $48,000. Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson during the first quarter worth about $52,000. Finally, Pandora Wealth Inc. acquired a new stake in Johnson & Johnson in the 1st quarter worth about $65,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $196.00 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $197.18. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $472.22 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 2.19 and a beta of 0.38. The firm has a 50 day simple moving average of $185.81 and a 200 day simple moving average of $169.94.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The company had revenue of $24.02 billion during the quarter. Research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Analyst Ratings Changes

A number of research analysts have issued reports on JNJ shares. Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their target price for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Stifel Nicolaus boosted their price target on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Raymond James Financial increased their price target on Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Scotiabank assumed coverage on Johnson & Johnson in a report on Thursday. They issued a “sector outperform” rating and a $230.00 price objective for the company. Finally, Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.05.

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.