Novare Capital Management LLC Reduces Stock Position in Johnson & Johnson (NYSE:JNJ)

Novare Capital Management LLC trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 2.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 139,294 shares of the company’s stock after selling 3,143 shares during the quarter. Johnson & Johnson makes up about 1.8% of Novare Capital Management LLC’s holdings, making the stock its 14th biggest holding. Novare Capital Management LLC’s holdings in Johnson & Johnson were worth $20,359,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Citizens & Northern Corp boosted its stake in Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after acquiring an additional 63 shares during the period. Carolinas Wealth Consulting LLC boosted its holdings in shares of Johnson & Johnson by 0.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock valued at $2,643,000 after purchasing an additional 64 shares during the period. Epic Trust Investment Advisors LLC boosted its holdings in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares during the period. Verity Asset Management Inc. raised its stake in Johnson & Johnson by 2.0% in the fourth quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after acquiring an additional 65 shares during the period. Finally, Outfitter Financial LLC raised its stake in shares of Johnson & Johnson by 0.4% during the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock valued at $2,431,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s shares.

Insider buying and selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Insiders own 0.16% of the company’s shares.

Analyst upgrades and downgrades

JNJ has been the subject of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. TD Securities cut their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Tuesday. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.21, based on data from MarketBeat.com.

Check out our latest research report on Johnson & Johnson

Johnson & Johnson stock performance

Shares of JNJ stock opened at $167.27 on Thursday. The firm has a 50 day moving average of $156.82 and a two hundred day moving average of $153.70. The stock has a market cap of $402.57 billion, a PE ratio of 10.43, a P/E/G ratio of 2.73 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07, and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson (NYSE:JNJ – Get Your Free Report ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. In the same period last year, the company earned $2.80 per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27. This represents an annualized dividend of $4.96 and a dividend yield of 2.97%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Johnson & Johnson Company Profile

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures and sells various health products worldwide. The company’s Innovative Medicines segment offers products for various therapeutic areas such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease and psoriasis; infectious diseases including HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders and schizophrenia; oncology, such as prostate cancer, hematological malignancies, lung cancer and bladder cancer; cardiovascular and metabolic, including thrombosis, diabetes and macular degeneration; and pulmonary hypertension including pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals and healthcare professionals for prescription use.

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Want to see what other hedge funds JNJ owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Johnson & Johnson (NYSE:JNJ – Free Report).

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