SP Asset Management LLC Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

SP Asset Management LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,268 shares of the company’s stock after selling 1,389 shares during the period. Johnson & Johnson accounts for 1.2% of SP Asset Management LLC’s investment portfolio, making the stock its 23rd biggest holding. SP Asset Management LLC’s holdings in Johnson & Johnson were worth $13,340,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of JNJ. Innealta Capital LLC bought a new position in Johnson & Johnson during the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new position in Johnson & Johnson in the first quarter valued at about $31,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at approximately $43,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Grayhawk Investment Strategies Inc. raised its holdings in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the period. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related 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 transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on JNJ. TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. TD Cowen lowered their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Morgan Stanley boosted 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 report on Thursday, July 18th. Finally, StockNews.com lowered shares of Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $164.64 on Friday. The stock’s 50-day simple moving average is $159.17 and its two-hundred 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. The firm has a market capitalization of $396.24 billion, a P/E ratio of 10.26, a P/E/G ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 earnings per share. As a group, equities analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) 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.