WealthPLAN Partners LLC Reduces Stock Position in Johnson & Johnson $JNJ

Key Points

• WealthPLAN Partners LLC has reduced its stake in Johnson & Johnson by 18.3%, owning 34,090 shares worth approximately $5.2 million after selling 7,645 shares in the second quarter.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, set to be paid on December 9th, reflecting an annualized yield of 2.7%.
• Analysts have updated their price targets for Johnson & Johnson, with an average target of $199.59 and several firms upgrading their ratings to buy and outperform.

WealthPLAN Partners LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 18.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,090 shares of the company's stock after selling 7,645 shares during the period. WealthPLAN Partners LLC's holdings in Johnson & Johnson were worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. GFG Capital LLC purchased a new stake in Johnson & Johnson in the 2nd quarter valued at about $35,000. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $52,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.6%

NYSE JNJ opened at $193.27 on Friday. 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 firm has a market cap of $465.45 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. The company has a 50 day moving average price of $180.49 and a 200 day moving average price of $164.80. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (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 for the quarter. As a group, sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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 paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson 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 transaction of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, 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 SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on JNJ shares. Sanford C. Bernstein boosted their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a report on Monday, October 6th. Stifel Nicolaus boosted their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a "hold" rating in a report on Wednesday. Royal Bank Of Canada restated an "outperform" rating and issued a $209.00 price target on shares of Johnson & Johnson in a report on Friday, October 10th. Citigroup boosted their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, HSBC boosted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and an average target price of $199.59.

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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