Biltmore Wealth Management LLC Sells 355 Shares of Johnson & Johnson (NYSE:JNJ)

Biltmore Wealth Management LLC decreased its holdings in Johnson & Johnson (NYSE:JNJ) by 7.7% in the second quarter, Holdings Channel reports. The firm owned 4,260 shares of the company’s stock after selling 355 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Johnson & Johnson were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of JNJ. Christopher J. Hasenberg Inc purchased a new position in shares of Johnson & Johnson in the 1st quarter worth $31,000. Keener Financial Planning LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth $40,000. WFA Asset Management Corp lifted its position in Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the fourth quarter valued at $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter valued at $45,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.2 %

NYSE JNJ traded up $0.40 during trading on Friday, reaching $160.62. 4,579,186 shares of the company’s stock were exchanged, compared to its average volume of 7,354,407. The stock has a market cap of $386.56 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The company has a 50 day moving average price of $151.17 and a two-hundred day moving average price of $153.06. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating 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 business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the business earned $2.80 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Johnson & Johnson will post 10.07 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on JNJ. StockNews.com downgraded Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, August 5th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Bank of America cut their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

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.