Klingman & Associates LLC Sells 578 Shares of Johnson & Johnson (NYSE:JNJ)

Klingman & Associates LLC lowered its stake in Johnson & Johnson (NYSE:JNJ) by 3.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,101 shares of the company’s stock after selling 578 shares during the period. Klingman & Associates LLC’s holdings in Johnson & Johnson were worth $2,207,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in shares of Johnson & Johnson by 1,194.9% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 237,273 shares of the company’s stock worth $37,190,000 after buying an additional 218,949 shares in the last quarter. Silver Oak Securities Incorporated raised its holdings in shares of Johnson & Johnson by 48.7% in the fourth quarter. Silver Oak Securities Incorporated now owns 5,679 shares of the company’s stock valued at $890,000 after purchasing an additional 1,860 shares during the last quarter. Cora Capital Advisors LLC lifted its position in shares of Johnson & Johnson by 5.7% in the fourth quarter. Cora Capital Advisors LLC now owns 3,448 shares of the company’s stock worth $540,000 after purchasing an additional 185 shares in the last quarter. Blue Chip Partners LLC boosted its holdings in Johnson & Johnson by 0.4% during the fourth quarter. Blue Chip Partners LLC now owns 131,279 shares of the company’s stock worth $20,577,000 after purchasing an additional 541 shares during the last quarter. Finally, Eagle Wealth Strategies LLC bought a new position in Johnson & Johnson in the fourth quarter valued at $348,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. TD Cowen reduced their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, August 5th. TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Trading Up 1.0 %

JNJ stock opened at $165.86 on Friday. The stock has a market cap of $399.26 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 2.73 and a beta of 0.52. The company has a fifty day moving average price of $155.68 and a two-hundred day moving average price of $153.51. Johnson & Johnson has a one year low of $143.13 and a one year high of $165.98. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.80 EPS. Equities analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

About Johnson & Johnson

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.