Wendell David Associates Inc. Sells 1,502 Shares of Johnson & Johnson $JNJ

Key Points

• Wendell David Associates Inc. has reduced its holdings in Johnson & Johnson by 1.4%, now owning 103,832 shares valued at approximately $15.86 million, making JNJ its 18th largest holding.
• Several analysts have recently upgraded their ratings for Johnson & Johnson, with Citigroup and HSBC both raising their price targets to $$215.00 and a consensus target price of $200.06.
• The company announced a quarterly dividend of $1.30 per share, with an upcoming ex-dividend date on November 25th, resulting in an annualized dividend yield of 2.7%.

Wendell David Associates Inc. trimmed its holdings in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,832 shares of the company's stock after selling 1,502 shares during the quarter. Johnson & Johnson accounts for 1.6% of Wendell David Associates Inc.'s portfolio, making the stock its 18th largest holding. Wendell David Associates Inc.'s holdings in Johnson & Johnson were worth $15,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ellis Investment Partners LLC lifted its position in Johnson & Johnson by 0.7% in the second quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company's stock worth $1,307,000 after purchasing an additional 62 shares during the period. Cypress Wealth Services LLC lifted its position in Johnson & Johnson by 0.9% in the second quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company's stock worth $1,013,000 after purchasing an additional 62 shares during the period. Horizon Bancorp Inc. IN lifted its position in Johnson & Johnson by 11.2% in the second quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company's stock worth $97,000 after purchasing an additional 64 shares during the period. Global Strategic Investment Solutions LLC lifted its position in Johnson & Johnson by 3.5% in the second quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company's stock worth $294,000 after purchasing an additional 65 shares during the period. Finally, JSF Financial LLC lifted its position in Johnson & Johnson by 2.2% in the second quarter. JSF Financial LLC now owns 2,993 shares of the company's stock worth $457,000 after purchasing an additional 65 shares during the period. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Argus set a $210.00 target price on Johnson & Johnson in a research report on Wednesday, October 15th. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Citigroup increased their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. HSBC increased their price objective on Johnson & Johnson from $210.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 16th. Finally, Guggenheim upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $200.06.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value 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. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE:JNJ opened at $193.78 on Tuesday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.48. The firm has a market cap of $466.68 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The business has a fifty day moving average of $180.89 and a 200-day moving average of $165.18.

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

Johnson & Johnson Announces Dividend

The firm also recently announced 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 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 (DPR) 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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