Benedict Financial Advisors Inc. Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Benedict Financial Advisors Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 61,545 shares of the company’s stock after selling 460 shares during the period. Johnson & Johnson makes up approximately 2.4% of Benedict Financial Advisors Inc.’s holdings, making the stock its 5th biggest position. Benedict Financial Advisors Inc.’s holdings in Johnson & Johnson were worth $9,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Summit Wealth Partners LLC grew its holdings in Johnson & Johnson by 0.6% during the 2nd quarter. Summit Wealth Partners LLC now owns 10,007 shares of the company’s stock worth $1,463,000 after acquiring an additional 61 shares in the last quarter. Powers Advisory Group LLC grew its holdings in Johnson & Johnson by 0.6% during the 3rd quarter. Powers Advisory Group LLC now owns 9,489 shares of the company’s stock worth $1,538,000 after acquiring an additional 61 shares in the last quarter. Citizens & Northern Corp grew its holdings in Johnson & Johnson by 3.5% during the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Eagle Wealth Strategies LLC grew its holdings in Johnson & Johnson by 2.8% during the 3rd quarter. Eagle Wealth Strategies LLC now owns 2,294 shares of the company’s stock worth $372,000 after acquiring an additional 63 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC grew its holdings in Johnson & Johnson by 3.6% during the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $160.88 on Monday. The stock has a market cap of $387.19 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.90 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company’s 50-day moving average price is $163.41 and its 200 day moving average price is $155.10. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.66 EPS. As a group, research analysts forecast that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.08%. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on JNJ shares. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Sanford C. Bernstein upped their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Cowen decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.