BIP Wealth LLC Sells 1,073 Shares of Johnson & Johnson $JNJ

BIP Wealth LLC cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 13.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,125 shares of the company’s stock after selling 1,073 shares during the period. BIP Wealth LLC’s holdings in Johnson & Johnson were worth $1,088,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. GFG Capital LLC acquired a new position in Johnson & Johnson during the second quarter worth about $35,000. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter valued at approximately $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. bought a new position in Johnson & Johnson in the 1st quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $52,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 1.1%

Shares of JNJ stock opened at $190.38 on Friday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market cap of $458.69 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.24 and a beta of 0.40. The stock has a 50-day moving average of $182.26 and a 200-day moving average of $166.25.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The business had revenue of $24.02 billion for the quarter. On average, equities research analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Insider Activity

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on JNJ. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price on the stock in a research note on Monday, October 20th. Loop Capital set a $190.00 target price on Johnson & Johnson in a report on Wednesday. Royal Bank Of Canada reissued an “outperform” rating and set a $209.00 price target on shares of Johnson & Johnson in a research note on Friday, October 10th. Bank of America upped their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Citigroup lifted their target price on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson 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.