Drake & Associates LLC Sells 1,352 Shares of Johnson & Johnson (NYSE:JNJ)

Drake & Associates LLC reduced its position in Johnson & Johnson (NYSE:JNJ) by 34.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,628 shares of the company’s stock after selling 1,352 shares during the quarter. Drake & Associates LLC’s holdings in Johnson & Johnson were worth $435,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of JNJ. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Johnson & Johnson by 8.6% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 67,618 shares of the company’s stock valued at $14,975,000 after buying an additional 5,327 shares during the period. Cantor Fitzgerald Investment Advisor L.P grew its holdings in shares of Johnson & Johnson by 88.9% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 175,194 shares of the company’s stock valued at $31,049,000 after purchasing an additional 82,429 shares during the last quarter. AMI Investment Management Inc. grew its holdings in shares of Johnson & Johnson by 8.8% during the 1st quarter. AMI Investment Management Inc. now owns 18,305 shares of the company’s stock valued at $3,244,000 after purchasing an additional 1,475 shares during the last quarter. Equitable Holdings Inc. grew its holdings in shares of Johnson & Johnson by 4.9% during the 1st quarter. Equitable Holdings Inc. now owns 45,673 shares of the company’s stock valued at $8,095,000 after purchasing an additional 2,119 shares during the last quarter. Finally, USS Investment Management Ltd grew its holdings in shares of Johnson & Johnson by 2.4% during the 1st quarter. USS Investment Management Ltd now owns 860,371 shares of the company’s stock valued at $152,488,000 after purchasing an additional 20,528 shares during the last quarter. 68.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the sale, the vice president now directly owns 102,696 shares of the company’s stock, valued at $17,491,182.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the sale, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Peter Fasolo sold 20,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total transaction of $3,406,400.00. Following the completion of the sale, the vice president now directly owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. HSBC began coverage on shares of Johnson & Johnson in a report on Wednesday, September 6th. They set a “hold” rating and a $175.00 price target on the stock. Stifel Nicolaus lifted their target price on shares of Johnson & Johnson from $165.00 to $175.00 in a research report on Friday, July 21st. Credit Suisse Group lifted their target price on shares of Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. Finally, Citigroup started coverage on shares of Johnson & Johnson in a research report on Tuesday, May 30th. They issued a “buy” rating and a $185.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $170.65.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $162.41 on Tuesday. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market cap of $422.10 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 3.26 and a beta of 0.54. The company has a fifty day moving average price of $166.21 and a 200-day moving average price of $161.83.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The company had revenue of $25.53 billion for the quarter, compared to the consensus estimate of $24.63 billion. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 10.03 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Monday, August 28th were issued a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.