STAR Financial Bank Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

STAR Financial Bank trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.9% in the second quarter, HoldingsChannel reports. The firm owned 8,199 shares of the company’s stock after selling 708 shares during the period. STAR Financial Bank’s holdings in Johnson & Johnson were worth $1,198,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meridian Financial Partners LLC purchased a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $1,626,000. Summit Financial Wealth Advisors LLC grew its stake in Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after acquiring an additional 1,122 shares during the period. Gilbert & Cook Inc. grew its stake in Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after acquiring an additional 288 shares during the period. Franklin Parlapiano Turner & Welch LLC grew its stake in Johnson & Johnson by 0.7% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after acquiring an additional 325 shares during the period. Finally, Capital Asset Advisory Services LLC grew its stake in Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after acquiring an additional 2,151 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $164.64 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. 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 firm’s fifty day simple moving average is $159.17 and its 200 day simple moving average is $154.00. Johnson & Johnson has a twelve month low of $143.13 and a twelve month 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, 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 analyst estimates of $22.33 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on JNJ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. StockNews.com cut shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Finally, Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

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.