Lumature Wealth Partners LLC Reduces Holdings in Johnson & Johnson (NYSE:JNJ)

Lumature Wealth Partners LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 6.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,578 shares of the company’s stock after selling 666 shares during the quarter. Johnson & Johnson makes up approximately 0.8% of Lumature Wealth Partners LLC’s portfolio, making the stock its 22nd largest holding. Lumature Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,700,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Taylor & Morgan Wealth Management LLC raised its position in shares of Johnson & Johnson by 1.6% during the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock worth $635,000 after purchasing an additional 57 shares during the last quarter. Circle Wealth Management LLC raised its position in shares of Johnson & Johnson by 0.5% during the 1st quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock worth $2,007,000 after purchasing an additional 59 shares during the last quarter. Red Wave Investments LLC raised its position in shares of Johnson & Johnson by 2.0% during the 2nd quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock worth $530,000 after purchasing an additional 59 shares during the last quarter. Argus Investors Counsel Inc. raised its position in shares of Johnson & Johnson by 0.6% during the 2nd quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock worth $1,941,000 after purchasing an additional 61 shares during the last quarter. Finally, Alta Capital Management LLC raised its position in shares of Johnson & Johnson by 0.4% during the 2nd quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock worth $2,808,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Insider Activity at Johnson & Johnson

In related news, insider William Hait sold 15,000 shares of the business’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares of the company’s stock, valued at approximately $13,764,485.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider William Hait sold 15,000 shares of the business’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now owns 80,236 shares of the company’s stock, valued at approximately $13,764,485.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thibaut Mongon sold 35,246 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $171.18, for a total transaction of $6,033,410.28. Following the sale, the vice president now directly owns 40,133 shares of the company’s stock, valued at approximately $6,869,966.94. The disclosure for this sale can be found here. Insiders sold a total of 118,795 shares of company stock valued at $20,230,174 in the last quarter. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $176.20 on Monday. The firm has a market cap of $460.67 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57. The firm’s 50-day simple moving average is $167.84 and its 200-day simple moving average is $171.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. Equities analysts forecast that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.

Johnson & Johnson declared that its board has approved a stock repurchase program on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be paid a $1.13 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.57%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

Analyst Upgrades and Downgrades

Several analysts have commented on JNJ shares. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 19th. Citigroup lowered their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a research note on Wednesday, October 5th. Bank of America lowered their price objective on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Barclays initiated coverage on shares of Johnson & Johnson in a report on Monday, October 17th. They set an “equal weight” rating and a $175.00 target price on the stock. Finally, Sanford C. Bernstein reduced their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $181.33.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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