Forte Capital LLC ADV Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Forte Capital LLC ADV cut its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,191 shares of the company's stock after selling 1,872 shares during the quarter. Forte Capital LLC ADV's holdings in Johnson & Johnson were worth $3,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. WealthTrak Capital Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $29,000. Conquis Financial LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at about $36,000. Finally, Highline Wealth Partners LLC increased its holdings in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after purchasing an additional 86 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on JNJ shares. Wall Street Zen raised Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Barclays increased their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday. The Goldman Sachs Group raised Johnson & Johnson from a "neutral" rating to a "buy" rating and raised their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Finally, Leerink Partners lowered 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 report on Tuesday, May 13th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $174.11.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ traded up $0.67 during trading on Friday, reaching $163.65. The stock had a trading volume of 9,764,459 shares, compared to its average volume of 8,138,164. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.26. The business has a fifty day moving average price of $154.10 and a 200-day moving average price of $154.84. The stock has a market cap of $393.75 billion, a PE ratio of 17.50, a PEG ratio of 2.18 and a beta of 0.41. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.09. The firm had revenue of $23.74 billion for the quarter, compared to analyst estimates of $22.85 billion. Johnson & Johnson had a return on equity of 33.07% and a net margin of 25.00%. The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.82 earnings per share. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 3.18%. Johnson & Johnson's payout ratio is 55.61%.

Johnson & Johnson Profile

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.