Summit Wealth & Retirement Planning Inc. Trims Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Summit Wealth & Retirement Planning Inc. lowered its position in Johnson & Johnson (NYSE:JNJ) by 31.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,535 shares of the company’s stock after selling 695 shares during the quarter. Summit Wealth & Retirement Planning Inc.’s holdings in Johnson & Johnson were worth $224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of JNJ. Gilbert & Cook Inc. grew its stake in Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after purchasing an additional 288 shares in the last quarter. 9258 Wealth Management LLC boosted its position in Johnson & Johnson by 2.1% during the 4th quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after acquiring an additional 443 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in Johnson & Johnson by 66.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock valued at $2,244,000 after acquiring an additional 5,680 shares in the last quarter. First City Capital Management Inc. boosted its position in Johnson & Johnson by 3.0% during the 4th quarter. First City Capital Management Inc. now owns 11,282 shares of the company’s stock valued at $1,768,000 after acquiring an additional 333 shares in the last quarter. Finally, Canoe Financial LP boosted its position in Johnson & Johnson by 54.7% during the 4th quarter. Canoe Financial LP now owns 759,397 shares of the company’s stock valued at $119,028,000 after acquiring an additional 268,495 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $167.38 on Wednesday. The stock has a 50-day simple moving average of $158.40 and a two-hundred day simple moving average of $153.85. The firm has a market capitalization of $402.92 billion, a P/E ratio of 10.44, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $2.80 EPS. On average, equities analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. TD Securities decreased their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group decreased their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price 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.