GraniteShares Advisors LLC Sells 1,582 Shares of Johnson & Johnson (NYSE:JNJ)

GraniteShares Advisors LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,504 shares of the company’s stock after selling 1,582 shares during the period. Johnson & Johnson makes up about 1.8% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 5th largest position. GraniteShares Advisors LLC’s holdings in Johnson & Johnson were worth $1,960,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of JNJ. Avior Wealth Management LLC boosted its position in shares of Johnson & Johnson by 0.8% in the 4th quarter. Avior Wealth Management LLC now owns 37,366 shares of the company’s stock valued at $5,857,000 after purchasing an additional 309 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Johnson & Johnson by 21.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,109,544 shares of the company’s stock valued at $173,910,000 after purchasing an additional 196,065 shares during the period. Everence Capital Management Inc. boosted its position in shares of Johnson & Johnson by 8.9% in the 4th quarter. Everence Capital Management Inc. now owns 70,781 shares of the company’s stock valued at $11,094,000 after purchasing an additional 5,812 shares during the period. Wealth Alliance boosted its position in shares of Johnson & Johnson by 9.8% in the 4th quarter. Wealth Alliance now owns 12,887 shares of the company’s stock valued at $2,020,000 after purchasing an additional 1,152 shares during the period. Finally, Main Street Research LLC boosted its position in shares of Johnson & Johnson by 0.6% in the 4th quarter. Main Street Research LLC now owns 13,936 shares of the company’s stock valued at $2,184,000 after purchasing an additional 81 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $149.12 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $155.97 and its two-hundred day moving average is $155.57. The company has a market cap of $359.35 billion, a P/E ratio of 9.30, a P/E/G ratio of 2.44 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 EPS. On average, equities analysts expect that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is currently 29.68%.

Analysts Set New Price Targets

JNJ has been the subject of a number of research reports. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $169.00 to $170.00 in a research report on Thursday, April 18th. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Royal Bank of Canada decreased their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, April 15th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.86.

Insiders Place Their Bets

In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the sale, the insider now owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares in the company, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.