White Lighthouse Investment Management Inc. Cuts Stock Position in Johnson & Johnson (NYSE:JNJ)

Key Points

• White Lighthouse Investment Management Inc. sold 1,499 shares of Johnson & Johnson, reducing its holdings by 17.8%, leaving them with 6,930 shares valued at $1,149,000.
• Several large investors increased their stakes in Johnson & Johnson, with Brighton Jones LLC raising its investment by 13.9%, bringing its total to 51,876 shares valued at $7,502,000.
• Analysts have set a consensus rating of "Moderate Buy" for Johnson & Johnson, with an average price target of $174.50 following recent upgrades in ratings and price targets by various firms.

White Lighthouse Investment Management Inc. trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 17.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,930 shares of the company's stock after selling 1,499 shares during the quarter. White Lighthouse Investment Management Inc.'s holdings in Johnson & Johnson were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Covington Investment Advisors Inc. grew its stake in Johnson & Johnson by 9.8% during the first quarter. Covington Investment Advisors Inc. now owns 55,630 shares of the company's stock worth $9,226,000 after purchasing an additional 4,986 shares during the period. Berger Financial Group Inc grew its stake in Johnson & Johnson by 24.3% during the first quarter. Berger Financial Group Inc now owns 49,985 shares of the company's stock worth $8,290,000 after purchasing an additional 9,767 shares during the period. Pandora Wealth Inc. acquired a new stake in Johnson & Johnson during the first quarter worth approximately $65,000. Sierra Summit Advisors LLC grew its stake in Johnson & Johnson by 1.0% during the first quarter. Sierra Summit Advisors LLC now owns 14,060 shares of the company's stock worth $2,332,000 after purchasing an additional 133 shares during the period. Finally, Fiduciary Family Office LLC acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $1,508,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $0.65 during mid-day trading on Monday, hitting $173.98. The company had a trading volume of 7,208,197 shares, compared to its average volume of 9,486,962. The company has a market capitalization of $418.99 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.21 and a beta of 0.41. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $174.60. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $159.26 and its 200-day moving average price is $157.60.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.09. The company had revenue of $23.74 billion during the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.82 earnings per share. On average, sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced 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. This represents a $5.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

Wall Street Analyst Weigh In

A number of brokerages have commented on JNJ. UBS Group raised their price objective on Johnson & Johnson from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada lifted their target price on Johnson & Johnson from $181.00 to $185.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Barclays lifted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Wednesday, July 23rd. Finally, Leerink Partnrs lowered Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average target price of $174.50.

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.