Drive Wealth Management LLC Sells 1,720 Shares of Johnson & Johnson $JNJ

Key Points

• Drive Wealth Management LLC has reduced its holding in Johnson & Johnson by 36.6%, selling 1,720 shares and now owns 2,980 shares valued at $455,000.
• Several hedge funds have increased their stakes in Johnson & Johnson, with Apexium Financial LP raising its position by 10.7% and Avanza Fonder AB by 2.9%, indicating growing institutional interest in the company.
• Analysts have raised target prices for Johnson & Johnson's stock, with Bank of America and Raymond James Financial setting targets at $204.00 and $209.00, respectively, reflecting a positive outlook.

Drive Wealth Management LLC lowered its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 36.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,980 shares of the company's stock after selling 1,720 shares during the period. Drive Wealth Management LLC's holdings in Johnson & Johnson were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Apexium Financial LP raised its position in shares of Johnson & Johnson by 10.7% in the first quarter. Apexium Financial LP now owns 23,989 shares of the company's stock valued at $3,978,000 after purchasing an additional 2,310 shares during the period. Avanza Fonder AB raised its position in shares of Johnson & Johnson by 2.9% in the second quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock valued at $35,842,000 after purchasing an additional 6,566 shares during the period. Joel Isaacson & Co. LLC increased its holdings in Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after acquiring an additional 2,526 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Johnson & Johnson by 7.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock worth $12,164,000 after acquiring an additional 4,816 shares during the period. Finally, Klingman & Associates LLC increased its holdings in Johnson & Johnson by 13.4% during the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company's stock worth $2,817,000 after acquiring an additional 2,005 shares during the period. Institutional investors own 69.55% of the company's stock.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company'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 completion of the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Daiwa Capital Markets raised shares of Johnson & Johnson from a "neutral" rating to an "outperform" rating and set a $203.00 target price on the stock in a report on Monday. Raymond James Financial upped their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an "outperform" rating in a report on Wednesday, October 15th. The Goldman Sachs Group upped their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Finally, Guggenheim raised shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and an average target price of $200.06.

Johnson & Johnson Price Performance

JNJ stock opened at $191.93 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.48. The stock has a market cap of $462.23 billion, a PE ratio of 18.53, a P/E/G ratio of 2.28 and a beta of 0.40. The firm has a 50 day simple moving average of $181.27 and a two-hundred day simple moving average of $165.37.

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

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson's dividend payout ratio is 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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