Oak Harvest Investment Services Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Oak Harvest Investment Services lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 38.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,651 shares of the company’s stock after selling 33,793 shares during the quarter. Johnson & Johnson accounts for about 1.4% of Oak Harvest Investment Services’ investment portfolio, making the stock its 28th largest position. Oak Harvest Investment Services’ holdings in Johnson & Johnson were worth $7,988,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JNJ. Christopher J. Hasenberg Inc purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $31,000. WFA Asset Management Corp lifted its holdings in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after buying an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson during the fourth quarter worth $44,000. Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter valued at $45,000. Finally, Grayhawk Investment Strategies Inc. increased 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 valued at $48,000 after acquiring an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Securities dropped their price target on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, Morgan Stanley boosted their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $161.40 on Thursday. The firm has a market capitalization of $388.44 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.84. The firm has a 50-day moving average price of $153.21 and a 200-day moving average price of $153.15. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. As a group, equities research analysts forecast that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 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.