Sharp Financial Services LLC Decreases Position in Johnson & Johnson $JNJ

Sharp Financial Services LLC trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 21.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,618 shares of the company’s stock after selling 698 shares during the quarter. Sharp Financial Services LLC’s holdings in Johnson & Johnson were worth $400,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth $1,369,188,000. Bank of New York Mellon Corp lifted its holdings in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Johnson & Johnson by 1,382.0% in the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after buying an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after purchasing an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter valued at about $401,420,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JNJ shares. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Royal Bank Of Canada restated an “outperform” rating and set a $209.00 target price on shares of Johnson & Johnson in a report on Friday. HSBC boosted their target price on Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Finally, The Goldman Sachs Group boosted their target price on Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $193.88.

Insider Buying and Selling

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Trading Down 0.0%

JNJ opened at $190.88 on Wednesday. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.40. The stock has a market capitalization of $459.70 billion, a PE ratio of 20.41, a P/E/G ratio of 2.40 and a beta of 0.40. The business’s 50 day moving average price is $179.28 and its 200 day moving average price is $164.16. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The firm had revenue of $24.02 billion for the quarter. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is 55.61%.

Johnson & Johnson Company Profile

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.