ICA Group Wealth Management LLC Sells 5,034 Shares of Johnson & Johnson (NYSE:JNJ)

ICA Group Wealth Management LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 60.8% during the second quarter, Holdings Channel reports. The institutional investor owned 3,249 shares of the company’s stock after selling 5,034 shares during the period. ICA Group Wealth Management LLC’s holdings in Johnson & Johnson were worth $475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in JNJ. Gilbert & Cook Inc. raised its holdings in Johnson & Johnson by 3.3% during the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after buying an additional 288 shares during the last quarter. 9258 Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 2.1% in the 4th quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock worth $3,454,000 after acquiring an additional 443 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Johnson & Johnson by 66.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock valued at $2,244,000 after acquiring an additional 5,680 shares in the last quarter. Laffer Tengler Investments Inc. boosted its stake in Johnson & Johnson by 4.4% during the 4th quarter. Laffer Tengler Investments Inc. now owns 49,558 shares of the company’s stock valued at $7,768,000 after purchasing an additional 2,087 shares during the last quarter. Finally, OMNI 360 Wealth Inc. bought a new stake in Johnson & Johnson during the 4th quarter worth approximately $533,000. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on JNJ shares. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. TD Securities cut their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Morgan Stanley raised their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $165.52 on Monday. The business’s 50-day moving average price is $159.55 and its 200-day moving average price is $153.94. The firm has a market capitalization of $398.45 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $2.80 earnings per share. Sell-side analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.00%. Johnson & Johnson’s payout ratio is 30.92%.

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 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.