Allegiance Financial Group Advisory Services LLC Has $897,000 Stock Holdings in Johnson & Johnson $JNJ

Allegiance Financial Group Advisory Services LLC cut its holdings in Johnson & Johnson (NYSE:JNJ) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,874 shares of the company’s stock after selling 531 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Johnson & Johnson were worth $897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. Nuveen LLC acquired a new stake in Johnson & Johnson in the first quarter worth about $1,369,188,000. Bank of New York Mellon Corp increased its position in Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock worth $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Pacer Advisors Inc. increased its position in Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after purchasing an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. increased its position in Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC acquired a new stake in Johnson & Johnson in the second quarter worth about $401,420,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was 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 approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised their target price on Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a report on Monday, October 6th. 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. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. UBS Group set a $198.00 target price on Johnson & Johnson in a report on Friday, October 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $209.00 target price on shares of Johnson & Johnson in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.94.

Johnson & Johnson Trading Down 0.2%

NYSE:JNJ opened at $190.66 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $192.10. 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 stock has a market capitalization of $459.16 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The business’s 50-day simple moving average is $178.48 and its 200-day simple moving average is $163.76.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The business had revenue of $24.02 billion for the quarter. Sell-side analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, August 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

Johnson & Johnson 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.