Westwood Holdings Group Inc. Trims Position in Johnson & Johnson $JNJ

Westwood Holdings Group Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 15.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 726,257 shares of the company’s stock after selling 133,383 shares during the period. Johnson & Johnson comprises approximately 1.0% of Westwood Holdings Group Inc.’s holdings, making the stock its 19th biggest position. Westwood Holdings Group Inc.’s holdings in Johnson & Johnson were worth $110,936,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in JNJ. GFG Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $35,000. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson in the first quarter worth about $48,000. Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the 1st quarter valued at approximately $52,000. Finally, Pandora Wealth Inc. purchased a new stake in Johnson & Johnson in the 1st quarter worth approximately $65,000. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent analyst reports. Wells Fargo & Company set a $212.00 price objective on shares of Johnson & Johnson and gave the company an “overweight” rating in a research report on Friday, October 3rd. Morgan Stanley set a $190.00 price target on Johnson & Johnson in a report on Wednesday, October 15th. Bank of America upped their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Scotiabank assumed coverage on Johnson & Johnson in a report on Thursday. They issued a “sector outperform” rating and a $230.00 price target on the stock. Finally, Argus set a $210.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $201.05.

Johnson & Johnson Trading Up 0.4%

JNJ stock opened at $196.00 on Friday. The firm has a market cap of $472.22 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The firm has a fifty day moving average price of $185.81 and a 200 day moving average price of $169.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $197.18.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion for the quarter. Sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business 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. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s payout ratio is currently 50.19%.

Insiders Place Their Bets

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

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.