Alta Wealth Advisors LLC Reduces Position in Johnson & Johnson (NYSE:JNJ)

Alta Wealth Advisors LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,905 shares of the company’s stock after selling 144 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $469,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of JNJ. Amundi acquired a new stake in shares of Johnson & Johnson during the second quarter worth $911,021,000. Franklin Resources Inc. boosted its holdings in shares of Johnson & Johnson by 15.8% during the second quarter. Franklin Resources Inc. now owns 16,118,269 shares of the company’s stock worth $2,655,321,000 after purchasing an additional 2,197,757 shares during the last quarter. State Street Corp boosted its holdings in shares of Johnson & Johnson by 1.3% during the second quarter. State Street Corp now owns 142,047,884 shares of the company’s stock worth $23,400,968,000 after purchasing an additional 1,777,289 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Johnson & Johnson by 25,239.1% during the second quarter. Renaissance Technologies LLC now owns 1,748,400 shares of the company’s stock worth $288,031,000 after purchasing an additional 1,741,500 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Johnson & Johnson by 0.7% during the second quarter. Vanguard Group Inc. now owns 231,432,368 shares of the company’s stock worth $38,126,168,000 after purchasing an additional 1,701,721 shares during the last quarter. Institutional investors and hedge funds own 67.14% of the company’s stock.

Shares of NYSE JNJ opened at $160.69 on Wednesday. Johnson & Johnson has a 1 year low of $142.86 and a 1 year high of $179.92. The firm has a market cap of $423.03 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.38 and a beta of 0.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.11 and a current ratio of 1.34. The stock’s 50-day simple moving average is $162.74 and its 200-day simple moving average is $167.40.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Monday, October 18th. The company reported $2.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.35 by $0.25. The firm had revenue of $23.34 billion during the quarter, compared to analyst estimates of $23.72 billion. Johnson & Johnson had a return on equity of 37.90% and a net margin of 19.55%. Johnson & Johnson’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. As a group, research analysts predict that Johnson & Johnson will post 9.78 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 7th. Investors of record on Tuesday, November 23rd will be issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 2.64%. The ex-dividend date is Monday, November 22nd. Johnson & Johnson’s dividend payout ratio is currently 63.38%.

Several equities research analysts have recently issued reports on the company. Raymond James decreased their price objective on Johnson & Johnson from $183.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, October 20th. SVB Leerink reiterated a “buy” rating on shares of Johnson & Johnson in a report on Thursday, July 29th. Wells Fargo & Company reiterated a “buy” rating on shares of Johnson & Johnson in a report on Thursday, October 7th. Morgan Stanley cut Johnson & Johnson from an “overweight” rating to an “equal weight” rating and set a $187.00 target price on the stock. in a report on Tuesday, September 7th. Finally, Zacks Investment Research upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $172.00 target price on the stock in a report on Friday, October 22nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $187.78.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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