Praxis Investment Management Inc. Has $7.59 Million Holdings in Johnson & Johnson $JNJ

Key Points

• Praxis Investment Management Inc. reduced its stake in Johnson & Johnson by 24% during the second quarter, now holding approximately $7.59 million worth of the company's stock.
• Most analysts have rated Johnson & Johnson positively, with a consensus target price of $199.59 and numerous upgrades from institutions like Wells Fargo and Morgan Stanley.
• Johnson & Johnson recently announced a quarterly dividend of $1.30, representing an annual yield of 2.7%, with the payment date set for December 9th.

Praxis Investment Management Inc. cut its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 24.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,661 shares of the company's stock after selling 15,670 shares during the period. Johnson & Johnson accounts for about 0.5% of Praxis Investment Management Inc.'s investment portfolio, making the stock its 29th biggest position. Praxis Investment Management Inc.'s holdings in Johnson & Johnson were worth $7,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commons Capital LLC boosted its position in Johnson & Johnson by 19.0% in the second quarter. Commons Capital LLC now owns 1,826 shares of the company's stock valued at $279,000 after buying an additional 291 shares in the last quarter. Harbor Asset Planning Inc. acquired a new position in Johnson & Johnson in the second quarter valued at about $142,000. Werba Rubin Papier Wealth Management boosted its position in Johnson & Johnson by 19.5% in the second quarter. Werba Rubin Papier Wealth Management now owns 2,892 shares of the company's stock valued at $442,000 after buying an additional 471 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Johnson & Johnson in the second quarter valued at about $1,224,000. Finally, WealthPlan Investment Management LLC boosted its position in Johnson & Johnson by 20.2% in the second quarter. WealthPlan Investment Management LLC now owns 70,070 shares of the company's stock valued at $10,703,000 after buying an additional 11,759 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research analyst reports. Cowen reaffirmed a "buy" rating on shares of Johnson & Johnson in a research note on Tuesday. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Morgan Stanley set a $190.00 target price on shares of Johnson & Johnson in a research note on Wednesday. Barclays boosted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus boosted their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $199.59.

Insider Buying and Selling

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This 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 available through the SEC website. Insiders own 0.16% of the company's stock.

Johnson & Johnson Trading Up 0.6%

JNJ opened at $193.27 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company has a market cap of $465.45 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The firm has a 50 day simple moving average of $180.49 and a 200 day simple moving average of $164.86. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week 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 earnings per share 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%. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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