Indie Asset Partners LLC Sells 244 Shares of Johnson & Johnson (NYSE:JNJ)

Indie Asset Partners LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 11.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,841 shares of the company’s stock after selling 244 shares during the quarter. Indie Asset Partners LLC’s holdings in Johnson & Johnson were worth $305,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Conquis Financial LLC bought a new position in Johnson & Johnson during the fourth quarter valued at about $33,000. Bernard Wealth Management Corp. bought a new position in Johnson & Johnson during the fourth quarter valued at about $36,000. Highline Wealth Partners LLC grew its position in Johnson & Johnson by 51.8% during the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after buying an additional 86 shares during the period. von Borstel & Associates Inc. bought a new position in Johnson & Johnson during the first quarter valued at about $49,000. Finally, Capital A Wealth Management LLC purchased a new stake in Johnson & Johnson during the fourth quarter valued at about $50,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.3%

JNJ stock opened at $166.18 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $156.36 and its 200 day moving average is $156.14. The stock has a market cap of $399.84 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $23.74 billion for the quarter, compared to analysts’ expectations of $22.85 billion. During the same period last year, the business earned $2.82 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

Analyst Ratings Changes

A number of brokerages have weighed in on JNJ. Morgan Stanley increased their target price on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Bank of America increased their target price on shares of Johnson & Johnson from $161.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Leerink Partners lowered shares of Johnson & Johnson from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.50.

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.