Johnson & Johnson $JNJ Shares Sold by Washington Trust Bank

Washington Trust Bank cut its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 10.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,057 shares of the company’s stock after selling 1,879 shares during the period. Washington Trust Bank’s holdings in Johnson & Johnson were worth $2,453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GFG Capital LLC purchased a new position in Johnson & Johnson during the second quarter valued at $35,000. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter worth about $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the 1st quarter valued at about $48,000. Harvest Fund Management Co. Ltd acquired a new stake in Johnson & Johnson in the 1st quarter worth about $52,000. Finally, Pandora Wealth Inc. purchased a new stake in Johnson & Johnson during the 1st quarter worth approximately $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JNJ. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $209.00 target price on shares of Johnson & Johnson in a report on Friday, October 10th. Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a research report on Monday, October 20th. HSBC increased their price objective on shares of Johnson & Johnson from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Finally, Barclays boosted their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated 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. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.3%

Johnson & Johnson stock opened at $186.23 on Thursday. The stock’s fifty day moving average is $183.83 and its two-hundred day moving average is $168.29. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The stock has a market cap of $448.68 billion, a PE ratio of 17.98, a P/E/G ratio of 2.19 and a beta of 0.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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

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.