Balboa Wealth Partners Lowers Stock Position in Johnson & Johnson (NYSE:JNJ)

Balboa Wealth Partners trimmed its position in Johnson & Johnson (NYSE:JNJ) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,462 shares of the company’s stock after selling 249 shares during the quarter. Balboa Wealth Partners’ holdings in Johnson & Johnson were worth $1,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JNJ. Lantz Financial LLC raised its position in shares of Johnson & Johnson by 3.3% during the 1st quarter. Lantz Financial LLC now owns 11,974 shares of the company’s stock valued at $1,986,000 after purchasing an additional 377 shares during the period. Sulzberger Capital Advisors Inc. purchased a new stake in Johnson & Johnson in the 4th quarter worth $453,000. Horan Securities Inc. raised its holdings in Johnson & Johnson by 1.3% during the fourth quarter. Horan Securities Inc. now owns 7,178 shares of the company’s stock valued at $1,038,000 after acquiring an additional 90 shares during the period. State of Wyoming lifted its position in shares of Johnson & Johnson by 205,580.0% in the fourth quarter. State of Wyoming now owns 10,284 shares of the company’s stock valued at $1,487,000 after acquiring an additional 10,279 shares in the last quarter. Finally, Range Financial Group LLC boosted its stake in shares of Johnson & Johnson by 18.9% in the first quarter. Range Financial Group LLC now owns 15,886 shares of the company’s stock worth $2,635,000 after acquiring an additional 2,529 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.1%

JNJ opened at $152.33 on Thursday. The stock has a 50-day moving average of $153.95 and a 200 day moving average of $153.67. The company has a current ratio of 1.26, a quick ratio of 1.03 and a debt-to-equity ratio of 0.49. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $169.99. The firm has a market cap of $366.52 billion, a P/E ratio of 16.94, a P/E/G ratio of 2.31 and a beta of 0.42.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a return on equity of 33.46% and a net margin of 24.42%. As a group, research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $5.20 annualized dividend and a dividend yield of 3.41%. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.24. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JNJ shares. Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a research note on Wednesday, April 16th. The Goldman Sachs Group upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $157.00 to $172.00 in a research report on Wednesday, April 9th. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Raymond James Financial reduced their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a report on Wednesday, April 2nd. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.88.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.