Johnson & Johnson $JNJ Stock Position Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 23.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,829 shares of the company’s stock after selling 29,819 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Johnson & Johnson were worth $15,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Delaney Dennis R grew its position in Johnson & Johnson by 0.3% during the second quarter. Delaney Dennis R now owns 37,686 shares of the company’s stock valued at $5,757,000 after purchasing an additional 130 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Johnson & Johnson by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 207,929 shares of the company’s stock worth $31,761,000 after acquiring an additional 1,100 shares in the last quarter. Concord Asset Management LLC VA grew its position in Johnson & Johnson by 5.7% in the second quarter. Concord Asset Management LLC VA now owns 20,845 shares of the company’s stock worth $3,184,000 after acquiring an additional 1,125 shares in the last quarter. Vest Financial LLC grew its position in Johnson & Johnson by 11.7% in the second quarter. Vest Financial LLC now owns 452,723 shares of the company’s stock worth $69,153,000 after acquiring an additional 47,359 shares in the last quarter. Finally, Pzena Investment Management LLC grew its position in Johnson & Johnson by 4.5% in the second quarter. Pzena Investment Management LLC now owns 246,313 shares of the company’s stock worth $37,624,000 after acquiring an additional 10,527 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on JNJ shares. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Weiss Ratings raised shares of Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Bank of America boosted their target price on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $199.59.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $190.96 on Thursday. The stock has a market cap of $459.90 billion, a P/E ratio of 18.43, a PEG ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.40. The company has a fifty day moving average price of $179.68 and a 200 day moving average price of $164.34. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. Analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

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.