Johnson & Johnson (NYSE:JNJ) Position Reduced by King Wealth Management Group

by · The Markets Daily

King Wealth Management Group lowered its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 68.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,244 shares of the company’s stock after selling 32,939 shares during the quarter. King Wealth Management Group’s holdings in Johnson & Johnson were worth $2,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson during the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC grew its stake in Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.9 %

NYSE JNJ opened at $151.86 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $365.62 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.72 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The stock’s 50 day moving average is $161.82 and its two-hundred day moving average is $155.99.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the business earned $2.66 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Sanford C. Bernstein raised their price objective on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Morgan Stanley increased their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.94.

View Our Latest Stock Report on Johnson & Johnson

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

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