Edge Wealth Management Lowers stake in Johnson & Johnson (JNJ)

Johnson & Johnson (JNJ) : Edge Wealth Management reduced its stake in Johnson & Johnson by 2.64% during the most recent quarter end. The investment management company now holds a total of 65,776 shares of Johnson & Johnson which is valued at $7,778,670 after selling 1,784 shares in Johnson & Johnson , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Johnson & Johnson makes up approximately 3.28% of Edge Wealth Management’s portfolio.

Other Hedge Funds, Including , Torch Wealth Management reduced its stake in JNJ by selling 17 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 20,236 shares of JNJ which is valued at $2,393,109. Johnson & Johnson makes up approx 1.77% of Torch Wealth Management’s portfolio.Eagle Asset Management Inc reduced its stake in JNJ by selling 54,432 shares or 5.15% in the most recent quarter. The Hedge Fund company now holds 1,002,900 shares of JNJ which is valued at $117,981,156. Johnson & Johnson makes up approx 0.81% of Eagle Asset Management Inc’s portfolio.Carroll Financial Associates boosted its stake in JNJ in the latest quarter, The investment management firm added 1,395 additional shares and now holds a total of 92,127 shares of Johnson & Johnson which is valued at $11,036,815. Johnson & Johnson makes up approx 1.67% of Carroll Financial Associates’s portfolio. Capital Asset Advisory Services sold out all of its stake in JNJ during the most recent quarter. The investment firm sold 1,665 shares of JNJ which is valued $199,467.Gradient Investments boosted its stake in JNJ in the latest quarter, The investment management firm added 2,540 additional shares and now holds a total of 42,212 shares of Johnson & Johnson which is valued at $5,056,998. Johnson & Johnson makes up approx 0.50% of Gradient Investments’s portfolio.

Johnson & Johnson closed down -2.16 points or -1.80% at $117.64 with 63,94,159 shares getting traded on Tuesday. Post opening the session at $119.41, the shares hit an intraday low of $117.06 and an intraday high of $119.63 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Johnson & Johnson reported $1.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.68. The company had revenue of $18482.00 million for the quarter, compared to analysts expectations of $17985.80 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS.

Many Wall Street Analysts have commented on Johnson & Johnson. Company shares were Reiterated by UBS on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 137 from a previous price target of $126 .Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 133 from a previous price target of $125 .

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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