Forum Financial Management LP Sells 586 Shares of Johnson & Johnson (NYSE:JNJ)

Forum Financial Management LP cut its position in Johnson & Johnson (NYSE:JNJ) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,583 shares of the company’s stock after selling 586 shares during the quarter. Forum Financial Management LP’s holdings in Johnson & Johnson were worth $3,984,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC grew its stake in Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares during the period. Franklin Parlapiano Turner & Welch LLC grew its stake in Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares during the period. Lmcg Investments LLC grew its stake in Johnson & Johnson by 32.7% during the third quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock worth $14,125,000 after purchasing an additional 21,471 shares during the period. Finally, NTV Asset Management LLC grew its stake in Johnson & Johnson by 1.6% during the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after purchasing an additional 565 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 1.2 %

Shares of JNJ stock opened at $158.24 on Tuesday. The stock has a market capitalization of $380.98 billion, a PE ratio of 22.90, a P/E/G ratio of 2.84 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The business has a 50-day moving average of $163.18 and a 200 day moving average of $155.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. Johnson & Johnson’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.66 EPS. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. The Goldman Sachs Group cut their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. TD Cowen cut their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.93.

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.