Lafayette Investments Inc. Trims Holdings in Johnson & Johnson $JNJ

Lafayette Investments Inc. decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,735 shares of the company’s stock after selling 301 shares during the period. Johnson & Johnson makes up about 1.5% of Lafayette Investments Inc.’s holdings, making the stock its 16th largest holding. Lafayette Investments Inc.’s holdings in Johnson & Johnson were worth $7,291,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Apexium Financial LP boosted its stake in Johnson & Johnson by 10.7% during the first quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after buying an additional 2,310 shares during the period. Avanza Fonder AB lifted its stake in Johnson & Johnson by 2.9% during the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after purchasing an additional 6,566 shares during the last quarter. Joel Isaacson & Co. LLC increased its position in shares of Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock valued at $12,294,000 after purchasing an additional 2,526 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Johnson & Johnson by 7.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock valued at $12,164,000 after buying an additional 4,816 shares in the last quarter. Finally, Klingman & Associates LLC lifted its position in Johnson & Johnson by 13.4% in the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock worth $2,817,000 after buying an additional 2,005 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $191.93 on Wednesday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The company has a market capitalization of $462.23 billion, a P/E ratio of 18.53, a PEG ratio of 2.28 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a 50 day moving average price of $181.27 and a two-hundred day moving average price of $165.37.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued 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 payout ratio is currently 50.19%.

Wall Street Analyst Weigh In

Several research analysts have commented on JNJ shares. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Raymond James Financial lifted their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Morgan Stanley set a $190.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Finally, Daiwa America upgraded Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and an average price target of $200.06.

About Johnson & Johnson

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.