Johnson & Johnson $JNJ Holdings Cut by Texas Bank & Trust Co

Texas Bank & Trust Co reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,119 shares of the company’s stock after selling 577 shares during the period. Johnson & Johnson accounts for 1.2% of Texas Bank & Trust Co’s investment portfolio, making the stock its 24th biggest holding. Texas Bank & Trust Co’s holdings in Johnson & Johnson were worth $2,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. GFG Capital LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $35,000. Stone House Investment Management LLC acquired a new position in Johnson & Johnson in the first quarter worth approximately $47,000. 1248 Management LLC bought a new position in Johnson & Johnson during the first quarter valued at approximately $48,000. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson in the first quarter worth approximately $52,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, October 14th. Citigroup increased their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Wells Fargo & Company set a $212.00 target price on Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday, October 3rd. Finally, Daiwa America upgraded Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Stock Performance

JNJ opened at $189.02 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50. The stock’s 50 day moving average price is $183.28 and its two-hundred day moving average price is $167.75. The firm has a market capitalization of $455.40 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.19 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The company had revenue of $24.02 billion during the quarter. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. Johnson & Johnson’s payout ratio is currently 50.19%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

About Johnson & Johnson

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.