Ascension Asset Management LLC Trims Holdings in Johnson & Johnson (NYSE:JNJ)

Ascension Asset Management LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,269 shares of the company’s stock after selling 800 shares during the period. Johnson & Johnson makes up approximately 2.5% of Ascension Asset Management LLC’s holdings, making the stock its 6th largest holding. Ascension Asset Management LLC’s holdings in Johnson & Johnson were worth $4,863,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of JNJ. Citizens & Northern Corp lifted its stake in Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after acquiring an additional 63 shares during the period. Carolinas Wealth Consulting LLC raised its holdings in shares of Johnson & Johnson by 0.4% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock valued at $2,643,000 after purchasing an additional 64 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares during the period. Pine Harbor Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock valued at $507,000 after purchasing an additional 64 shares in the last quarter. Finally, Outfitter Financial LLC raised its stake in Johnson & Johnson by 0.4% in the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after buying an additional 65 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

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

Johnson & Johnson Price Performance

Shares of JNJ opened at $161.40 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company’s fifty day moving average price is $162.15 and its 200-day moving average price is $154.21. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a market capitalization of $388.44 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53.

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

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. TD Cowen lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Friday, September 20th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

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.