Avidian Wealth Solutions LLC Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Avidian Wealth Solutions LLC lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,679 shares of the company’s stock after selling 1,822 shares during the period. Avidian Wealth Solutions LLC’s holdings in Johnson & Johnson were worth $2,458,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tower View Wealth Management LLC increased its stake in Johnson & Johnson by 183.3% during the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth about $40,000. WFA Asset Management Corp raised its holdings in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares during the period. Creative Capital Management Investments LLC lifted its position in Johnson & Johnson by 43.0% in the third quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after buying an additional 86 shares during the last quarter. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth about $45,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

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

Wall Street Analyst Weigh In

JNJ has been the topic of several recent analyst reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Bank of America decreased their price target on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Monday. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their target price for the company from $169.00 to $170.00 in a research report on Thursday, April 18th. Finally, Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Price Performance

JNJ stock opened at $148.95 on Thursday. The stock has a market cap of $358.47 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $153.70 and a 200 day moving average price of $154.97.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $2.68 EPS. Equities research analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.33%. Johnson & Johnson’s dividend payout ratio is 30.92%.

About Johnson & Johnson

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.