Armbruster Capital Management Inc. Sells 325 Shares of Johnson & Johnson (NYSE:JNJ)

27 May 2020, 14:26 by Kim Johansen

Armbruster Capital Management Inc. reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 9.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,265 shares of the company’s stock after selling 325 shares during the period. Armbruster Capital Management Inc.’s holdings in Johnson & Johnson were worth $428,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. bought a new position in Johnson & Johnson in the 4th quarter worth approximately $31,000. Advocacy Wealth Management Services LLC boosted its holdings in Johnson & Johnson by 38.2% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 83 shares during the period. Lion Street Advisors LLC bought a new position in Johnson & Johnson in the 1st quarter worth approximately $45,000. Joseph P. Lucia & Associates LLC boosted its holdings in Johnson & Johnson by 50.8% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 374 shares of the company’s stock worth $49,000 after buying an additional 126 shares during the period. Finally, NWK Group Inc. bought a new position in Johnson & Johnson in the 4th quarter worth approximately $61,000. 68.45% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on JNJ shares. UBS Group downgraded shares of Johnson & Johnson from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $163.00 to $160.00 in a report on Tuesday, April 28th. Wells Fargo & Co raised shares of Johnson & Johnson to a “hold” rating in a report on Wednesday, April 22nd. Raymond James raised their price objective on shares of Johnson & Johnson from $153.00 to $157.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Credit Suisse Group reaffirmed a “buy” rating and issued a $161.00 price objective on shares of Johnson & Johnson in a report on Tuesday, April 28th. Finally, Argus reiterated a “buy” rating and issued a $155.00 target price (down from $165.00) on shares of Johnson & Johnson in a research note on Friday, March 27th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $163.47.

In related news, Director William D. Perez acquired 500 shares of the stock in a transaction dated Friday, March 13th. The shares were purchased at an average price of $127.69 per share, for a total transaction of $63,845.00. Following the transaction, the director now owns 16,030 shares in the company, valued at approximately $2,046,870.70. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Johnson & Johnson stock opened at $144.56 on Wednesday. The firm’s fifty day moving average price is $147.76 and its 200-day moving average price is $142.57. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.31. The stock has a market cap of $380.36 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 3.14 and a beta of 0.71. Johnson & Johnson has a fifty-two week low of $109.16 and a fifty-two week high of $157.00.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, April 14th. The company reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.27. The firm had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $19.48 billion. Johnson & Johnson had a net margin of 24.47% and a return on equity of 39.71%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company posted $2.10 EPS. On average, analysts predict that Johnson & Johnson will post 7.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, May 22nd. This represents a $4.04 annualized dividend and a dividend yield of 2.79%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.95. Johnson & Johnson’s dividend payout ratio (DPR) is 46.54%.

Johnson & Johnson Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.