Garrison Point Advisors LLC Trims Stake in Johnson & Johnson (NYSE:JNJ)

Garrison Point Advisors LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,946 shares of the company’s stock after selling 204 shares during the quarter. Johnson & Johnson accounts for about 1.5% of Garrison Point Advisors LLC’s holdings, making the stock its 13th largest holding. Garrison Point Advisors LLC’s holdings in Johnson & Johnson were worth $2,331,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $44,000. MFA Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth about $43,000. Finally, Grayhawk Investment Strategies Inc. boosted its holdings in shares of 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. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred 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 transaction, the vice president now 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 can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.1 %

JNJ opened at $164.64 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The firm has a market capitalization of $396.24 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 2.71 and a beta of 0.53. The business has a 50 day simple moving average of $159.17 and a two-hundred day simple moving average of $154.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results 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. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the company earned $2.80 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on JNJ. TD Cowen dropped their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein increased their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. Finally, TD Securities dropped their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.21.

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.