Beacon Financial Group Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Beacon Financial Group reduced its stake in Johnson & Johnson by 1.54% during the most recent quarter end. The investment management company now holds a total of 95,157 shares of Johnson & Johnson which is valued at $11,704,311 after selling 1,491 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Johnson & Johnson makes up approximately 2.46% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Investment Partners Ltd Oh Adv reduced its stake in JNJ by selling 6,925 shares or 28.86% in the most recent quarter. The Hedge Fund company now holds 17,070 shares of JNJ which is valued at $2,099,610. Johnson & Johnson makes up approx 2.05% of Investment Partners Ltd Oh Adv’s portfolio.Patten Patten Inctn reduced its stake in JNJ by selling 394 shares or 0.4% in the most recent quarter. The Hedge Fund company now holds 97,879 shares of JNJ which is valued at $12,024,435. Johnson & Johnson makes up approx 1.64% of Patten Patten Inctn’s portfolio.Nadler Financial Group boosted its stake in JNJ in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 8,408 shares of Johnson & Johnson which is valued at $1,032,923. Johnson & Johnson makes up approx 0.43% of Nadler Financial Group’s portfolio.Laurel Wealth Advisors reduced its stake in JNJ by selling 1,049 shares or 2.18% in the most recent quarter. The Hedge Fund company now holds 47,144 shares of JNJ which is valued at $5,791,640. Johnson & Johnson makes up approx 2.82% of Laurel Wealth Advisors’s portfolio.

Johnson & Johnson closed down -0.18 points or -0.15% at $123 with 71,92,765 shares getting traded on Friday. Post opening the session at $123.77, the shares hit an intraday low of $122.71 and an intraday high of $124.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Johnson & Johnson reported $1.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.65. The company had revenue of $17482.00 million for the quarter, compared to analysts expectations of $17491.02 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Standpoint Research Initiated Johnson & Johnson on May 20, 2016 to “Sell”, Price Target of the shares are set at $94.Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 125 from a previous price target of $122 .Company shares were Reiterated by Piper Jaffray on Apr 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 106 from a previous price target of $105 .

Johnson & Johnson is a holding company. The Company is engaged in the research and development manufacture and sale of a range of products in the health care field. The Company has more than 265 operating companies conducting business around the world. The Company’s primary focus is products related to human health and well-being. The Company is organized into three business segments: Consumer Pharmaceutical and Medical Devices. The Company’s subsidiaries operate 134 manufacturing facilities occupying approximately 21.5 million square feet of floor space. The Company’s research facilities are located in the United States Belgium Brazil Canada China France Germany India Israel Japan the Netherlands Singapore Switzerland and the United Kingdom.

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