Altus Wealth Group LLC Trims Stake in Johnson & Johnson (NYSE:JNJ)

Altus Wealth Group LLC lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,840 shares of the company’s stock after selling 981 shares during the quarter. Altus Wealth Group LLC’s holdings in Johnson & Johnson were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of JNJ. Innealta Capital LLC bought a new stake in Johnson & Johnson during the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of Johnson & Johnson during the 1st quarter valued at about $31,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at approximately $43,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson in the 4th quarter worth approximately $44,000. Finally, Grayhawk Investment Strategies Inc. raised its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JNJ. TD Cowen reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Tuesday. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Trading Down 0.4 %

JNJ stock opened at $164.41 on Friday. The firm has a market cap of $395.68 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 2.73 and a beta of 0.52. The firm has a fifty day moving average price of $157.57 and a 200 day moving average price of $153.83. 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 has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion for 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 business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 EPS. Sell-side analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

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.