CMG Global Holdings LLC Sells 92 Shares of Johnson & Johnson (NYSE:JNJ)

CMG Global Holdings LLC lessened its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,514 shares of the company’s stock after selling 92 shares during the period. CMG Global Holdings LLC’s holdings in Johnson & Johnson were worth $367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Innealta Capital LLC bought a new position in Johnson & Johnson in the 2nd quarter worth $27,000. MFA Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson in the second quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth about $44,000. Fairfield Financial Advisors LTD bought a new stake in Johnson & Johnson during the 2nd quarter valued at approximately $46,000. Finally, Grayhawk Investment Strategies Inc. lifted its holdings in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. 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.

Analyst Ratings Changes

JNJ has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research report on Friday, September 20th. TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Sanford C. Bernstein lifted their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $161.40 on Monday. The company has a market cap of $388.44 billion, a P/E ratio of 10.06, a P/E/G ratio of 2.69 and a beta of 0.53. The business’s 50 day moving average price is $162.15 and its 200-day moving average price is $154.16. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.