Balentine LLC Sells 266 Shares of Johnson & Johnson $JNJ

Balentine LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 5.5% in the second quarter, HoldingsChannel reports. The fund owned 4,567 shares of the company’s stock after selling 266 shares during the quarter. Balentine LLC’s holdings in Johnson & Johnson were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Syverson Strege & Co grew its position in shares of Johnson & Johnson by 335.0% during the 2nd quarter. Syverson Strege & Co now owns 6,525 shares of the company’s stock valued at $997,000 after acquiring an additional 5,025 shares during the period. Great Lakes Retirement Inc. grew its position in shares of Johnson & Johnson by 10.1% during the 2nd quarter. Great Lakes Retirement Inc. now owns 8,373 shares of the company’s stock valued at $1,279,000 after acquiring an additional 765 shares during the period. AlphaStar Capital Management LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $4,150,000. Bridgewealth Advisory Group LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $337,000. Finally, Bordeaux Wealth Advisors LLC grew its position in shares of Johnson & Johnson by 2.4% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 6,656 shares of the company’s stock valued at $1,017,000 after acquiring an additional 156 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.0%

Shares of JNJ stock opened at $189.02 on Friday. The stock has a market cap of $455.40 billion, a P/E ratio of 18.25, a PEG ratio of 2.19 and a beta of 0.40. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.48. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $183.28 and its two-hundred day simple moving average is $167.56.

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

Johnson & Johnson Dividend Announcement

The business 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 $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.8%. Johnson & Johnson’s payout ratio is presently 50.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. The Goldman Sachs Group upped their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their target price for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Finally, Raymond James Financial upped their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, 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 through the SEC website. 0.16% of the stock is currently owned by insiders.

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.