Baxter Bros Inc. Lowers Position in Johnson & Johnson $JNJ

Key Points

• Baxter Bros Inc. reduced its stake in Johnson & Johnson by 7.8%, owning 42,199 shares after selling 3,584 shares, with a valuation of $6,446,000.
• Johnson & Johnson recently declared a quarterly dividend of $1.30 per share, representing a 2.7% dividend yield, with a payout ratio of 55.61%.
• The stock has a current consensus target price of $192.94 among analysts, with recent upgrades, including a "buy" rating from Wall Street Zen.

Baxter Bros Inc. lessened its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,199 shares of the company's stock after selling 3,584 shares during the period. Baxter Bros Inc.'s holdings in Johnson & Johnson were worth $6,446,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Armstrong Fleming & Moore Inc boosted its position in Johnson & Johnson by 221.5% in the 2nd quarter. Armstrong Fleming & Moore Inc now owns 12,588 shares of the company's stock worth $1,923,000 after purchasing an additional 8,673 shares in the last quarter. Fulton Breakefield Broenniman LLC lifted its position in shares of Johnson & Johnson by 2.7% during the 2nd quarter. Fulton Breakefield Broenniman LLC now owns 21,860 shares of the company's stock valued at $3,339,000 after buying an additional 576 shares in the last quarter. Columbus Macro LLC lifted its position in shares of Johnson & Johnson by 4.5% during the 2nd quarter. Columbus Macro LLC now owns 35,415 shares of the company's stock valued at $5,410,000 after buying an additional 1,532 shares in the last quarter. Values Added Financial LLC lifted its position in shares of Johnson & Johnson by 11.8% during the 2nd quarter. Values Added Financial LLC now owns 1,696 shares of the company's stock valued at $259,000 after buying an additional 179 shares in the last quarter. Finally, Cohen Investment Advisors LLC lifted its position in shares of Johnson & Johnson by 11.1% during the 2nd quarter. Cohen Investment Advisors LLC now owns 24,117 shares of the company's stock valued at $3,684,000 after buying an additional 2,418 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.2%

NYSE JNJ opened at $190.66 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $192.10. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The business's fifty day simple moving average is $178.48 and its 200-day simple moving average is $163.76. The firm has a market cap of $459.16 billion, a PE ratio of 20.39, a P/E/G ratio of 2.40 and a beta of 0.40.

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. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The business had revenue of $24.02 billion for the quarter. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson's payout ratio is currently 55.61%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. UBS Group set a $198.00 target price on Johnson & Johnson in a research report on Friday, October 3rd. HSBC increased their target price on Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $209.00 price objective on shares of Johnson & Johnson in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $192.94.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson 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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