SP Asset Management LLC Acquires 1,017 Shares of Johnson & Johnson $JNJ

SP Asset Management LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,178 shares of the company’s stock after acquiring an additional 1,017 shares during the period. Johnson & Johnson comprises approximately 1.1% of SP Asset Management LLC’s holdings, making the stock its 23rd largest position. SP Asset Management LLC’s holdings in Johnson & Johnson were worth $13,775,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. GFG Capital LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter valued at $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at $47,000. 1248 Management LLC purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at $48,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at $52,000. Finally, Pandora Wealth Inc. purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on JNJ shares. Argus set a $210.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 15th. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Stifel Nicolaus boosted their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.05.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.3%

Shares of NYSE JNJ opened at $186.23 on Thursday. The firm’s 50-day moving average price is $183.83 and its 200-day moving average price is $168.29. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $448.68 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm 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%. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

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.