Angeles Wealth Management LLC Has $2.30 Million Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Angeles Wealth Management LLC has reduced its stake in Johnson & Johnson (JNJ) by 8.0%, bringing its holdings to approximately $2.30 million after selling 1,317 shares during the second quarter.
• Insider transactions include EVP Jennifer L. Taubert selling 56,471 shares for over $10 million, representing a 24.08% decrease in her ownership.
• Analysts are optimistic about Johnson & Johnson, with new price targets ranging from $209.00 to $215.00 and a consensus rating of "Moderate Buy."

Angeles Wealth Management LLC trimmed its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,076 shares of the company's stock after selling 1,317 shares during the quarter. Angeles Wealth Management LLC's holdings in Johnson & Johnson were worth $2,303,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in JNJ. GFG Capital LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at approximately $35,000. Stone House Investment Management LLC acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $48,000. von Borstel & Associates Inc. acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Johnson & Johnson in the 1st quarter valued at approximately $52,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on JNJ shares. Argus set a $210.00 price target on shares of Johnson & Johnson in a research report on Wednesday. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Citigroup increased their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $209.00 price objective on shares of Johnson & Johnson in a research report on Friday, October 10th. Finally, Weiss Ratings upgraded shares of Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.59.

Johnson & Johnson Trading Up 0.6%

NYSE:JNJ opened at $193.27 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $465.45 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.27 and a beta of 0.40. The firm has a fifty day simple moving average of $180.49 and a two-hundred day simple moving average of $164.86. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. Analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio (DPR) is presently 50.19%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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