Shikiar Asset Management Inc. Sells 580 Shares of Johnson & Johnson $JNJ

Shikiar Asset Management Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 22.6% in the second quarter, Holdings Channel reports. The firm owned 1,983 shares of the company’s stock after selling 580 shares during the period. Shikiar Asset Management Inc.’s holdings in Johnson & Johnson were worth $303,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of JNJ. GFG Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $35,000. Highline Wealth Partners LLC lifted its holdings in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson during the first quarter worth $47,000. 1248 Management LLC purchased a new stake in Johnson & Johnson during the first quarter worth $48,000. Finally, von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson during the first quarter worth $49,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Sanford C. Bernstein upped their target price on Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. UBS Group set a $198.00 target price on Johnson & Johnson in a report on Friday, October 3rd. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday, October 3rd. The Goldman Sachs Group upped their target price on Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays upped their price target on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.94.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $190.66 on Friday. The firm has a market capitalization of $459.16 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The business has a fifty day moving average of $178.48 and a 200 day moving average of $163.77. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $192.10.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. As a group, research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

Insiders Place Their Bets

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

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.