Hemington Wealth Management Reduces Position in Johnson & Johnson $JNJ

Key Points

• Hemington Wealth Management has reduced its holdings in Johnson & Johnson by 6.7% in the second quarter, resulting in ownership of 22,294 shares, valued at $3,405,000.
• EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock, completing a transaction valued at over $10 million.
• Johnson & Johnson recently announced a quarterly dividend of $1.30, with an annualized dividend yield of 2.7%.

Hemington Wealth Management cut its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,294 shares of the company's stock after selling 1,589 shares during the period. Johnson & Johnson makes up 0.5% of Hemington Wealth Management's portfolio, making the stock its 25th biggest position. Hemington Wealth Management's holdings in Johnson & Johnson were worth $3,405,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GFG Capital LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $35,000. Highline Wealth Partners LLC boosted its position in Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock worth $42,000 after purchasing an additional 86 shares during the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the first quarter worth about $48,000. Finally, von Borstel & Associates Inc. purchased a new position in Johnson & Johnson in the first quarter worth about $49,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's 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 completion of 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 through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $190.88 on Tuesday. The stock has a market capitalization of $459.71 billion, a PE ratio of 20.42, a P/E/G ratio of 2.40 and a beta of 0.40. The business has a 50 day simple moving average of $178.88 and a two-hundred day simple moving average of $163.97. 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 1-year low of $140.68 and a 1-year high of $192.10.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. On average, research analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Citigroup raised their target price on Johnson & Johnson from $200.00 to $213.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an "overweight" rating in a research report on Friday, October 3rd. Morgan Stanley raised their target price on Johnson & Johnson from $176.00 to $178.00 and gave the stock an "equal weight" rating in a research report on Friday. Piper Sandler reissued an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $192.94.

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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