Johnson & Johnson (NYSE:JNJ) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 21.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,818 shares of the company’s stock after selling 500 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Johnson & Johnson were worth $295,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $46,000. Fairway Wealth LLC lifted its stake in Johnson & Johnson by 217.1% in the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after buying an additional 228 shares in the last quarter. Finally, Quarry LP acquired a new stake in Johnson & Johnson during the 2nd quarter valued at $49,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 1.5 %

Shares of JNJ opened at $165.86 on Thursday. The firm has a market cap of $399.17 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average is $163.29 and its two-hundred day moving average is $154.92. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 earnings per share. Analysts forecast that Johnson & Johnson will post 10 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were 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 in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. TD Securities lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.93.

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.