Johnson & Johnson (NYSE:JNJ) Position Cut by Engrave Wealth Partners LLC

Engrave Wealth Partners LLC trimmed its position in Johnson & Johnson (NYSE:JNJ) by 4.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,777 shares of the company’s stock after selling 1,033 shares during the period. Johnson & Johnson makes up about 1.2% of Engrave Wealth Partners LLC’s portfolio, making the stock its 16th largest holding. Engrave Wealth Partners LLC’s holdings in Johnson & Johnson were worth $3,936,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Atlantic Private Wealth LLC acquired a new stake in Johnson & Johnson in the first quarter worth approximately $32,000. GW&K Investment Management LLC acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $35,000. Dark Forest Capital Management LP lifted its position in shares of Johnson & Johnson by 1,044.4% during the 4th quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after acquiring an additional 188 shares during the last quarter. Ruedi Wealth Management Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $42,000. Finally, Kepos Capital LP acquired a new stake in shares of Johnson & Johnson during the 4th quarter valued at $45,000. 68.40% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 1.4 %

NYSE JNJ opened at $161.43 on Friday. Johnson & Johnson has a 1-year low of $150.11 and a 1-year high of $181.04. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $419.55 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.32 and a beta of 0.54. The firm’s fifty day simple moving average is $166.17 and its 200-day simple moving average is $161.67.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Thursday, July 20th. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion for the quarter, compared to the consensus estimate of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.59 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.03 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Monday, August 28th were given a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s payout ratio is 96.36%.

Insiders Place Their Bets

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the completion of the sale, the insider now directly owns 87,747 shares in the company, valued at $15,092,484. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Raymond James cut their price objective on Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating for the company in a research report on Tuesday, September 5th. Atlantic Securities increased their price objective on Johnson & Johnson from $167.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Stifel Nicolaus increased their price objective on Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Wells Fargo & Company reduced their target price on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating for the company in a report on Thursday, August 31st. Finally, Barclays reduced their target price on Johnson & Johnson from $175.00 to $158.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has a consensus rating of “Hold” and an average price target of $170.65.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.