Tyche Wealth Partners LLC Sells 4,298 Shares of Johnson & Johnson (NYSE:JNJ)

Tyche Wealth Partners LLC cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 13.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,842 shares of the company’s stock after selling 4,298 shares during the quarter. Johnson & Johnson comprises approximately 1.0% of Tyche Wealth Partners LLC’s portfolio, making the stock its 24th biggest position. Tyche Wealth Partners LLC’s holdings in Johnson & Johnson were worth $4,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Intellectus Partners LLC boosted its position in shares of Johnson & Johnson by 11.2% during the second quarter. Intellectus Partners LLC now owns 8,854 shares of the company’s stock valued at $1,294,000 after buying an additional 895 shares during the last quarter. Harrell Investment Partners LLC boosted its position in shares of Johnson & Johnson by 6.5% during the second quarter. Harrell Investment Partners LLC now owns 36,526 shares of the company’s stock valued at $5,339,000 after buying an additional 2,245 shares during the last quarter. Everpar Advisors LLC boosted its position in shares of Johnson & Johnson by 23.1% during the second quarter. Everpar Advisors LLC now owns 9,155 shares of the company’s stock valued at $1,338,000 after buying an additional 1,720 shares during the last quarter. Peddock Capital Advisors LLC boosted its position in shares of Johnson & Johnson by 1.1% during the second quarter. Peddock Capital Advisors LLC now owns 9,808 shares of the company’s stock valued at $1,434,000 after buying an additional 109 shares during the last quarter. Finally, Oak Harbor Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 2.8% during the second quarter. Oak Harbor Wealth Partners LLC now owns 29,599 shares of the company’s stock valued at $4,326,000 after buying an additional 804 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday. Sanford C. Bernstein raised their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, August 5th. Seven investment 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $0.30 during trading on Friday, hitting $159.39. The company had a trading volume of 5,012,774 shares, compared to its average volume of 7,341,345. The stock has a 50 day simple moving average of $152.38 and a 200 day simple moving average of $153.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.39. The firm has a market capitalization of $383.60 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $2.80 EPS. As a group, analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.11%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

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.