Easterly Investment Partners LLC Cuts Stock Position in Johnson & Johnson $JNJ

Easterly Investment Partners LLC trimmed its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,884 shares of the company’s stock after selling 4,141 shares during the quarter. Johnson & Johnson accounts for approximately 1.2% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 16th biggest position. Easterly Investment Partners LLC’s holdings in Johnson & Johnson were worth $17,243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of JNJ. GFG Capital LLC acquired a new position in shares of Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson during the 1st quarter worth $48,000. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson in the 1st quarter valued at about $52,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $193.27 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.40. The firm has a market capitalization of $465.45 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. The company’s fifty day moving average price is $180.49 and its 200 day moving average price is $164.86.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The company had revenue of $24.02 billion during the quarter. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders 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 yield of 2.7%. Johnson & Johnson’s payout ratio is currently 50.19%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent research reports. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Piper Sandler reissued an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Stifel Nicolaus lifted their price objective on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, September 16th. Finally, Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold 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 price target of $199.59.

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.