Westwood Holdings Group Inc. Sells 84,408 Shares of Johnson & Johnson (NYSE:JNJ)

Westwood Holdings Group Inc. lowered its stake in shares of Johnson & Johnson (NYSE:JNJ) by 8.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 860,575 shares of the company’s stock after selling 84,408 shares during the period. Westwood Holdings Group Inc.’s holdings in Johnson & Johnson were worth $125,782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of JNJ. Asset Management Group Inc. boosted its stake in Johnson & Johnson by 1.8% during the 2nd quarter. Asset Management Group Inc. now owns 17,297 shares of the company’s stock worth $2,528,000 after acquiring an additional 309 shares during the last quarter. Transatlantique Private Wealth LLC raised its stake in shares of Johnson & Johnson by 2.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 5,302 shares of the company’s stock valued at $758,000 after purchasing an additional 105 shares during the period. TPG Advisors LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at approximately $246,000. Summit Trail Advisors LLC grew its stake in shares of Johnson & Johnson by 30.7% during the 2nd quarter. Summit Trail Advisors LLC now owns 45,920 shares of the company’s stock worth $6,712,000 after acquiring an additional 10,789 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. lifted its position in shares of Johnson & Johnson by 5.7% in the second quarter. Kiely Wealth Advisory Group Inc. now owns 1,847 shares of the company’s stock worth $296,000 after purchasing an additional 99 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective 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. Morgan Stanley increased their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a report on Friday. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven research 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.4 %

NYSE:JNJ opened at $164.11 on Friday. The firm has a fifty day simple moving average of $161.30 and a two-hundred day simple moving average of $154.20. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a market capitalization of $394.96 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53. 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 posted its quarterly 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. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. 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.