Morris Financial Concepts Inc. Sells 768 Shares of Johnson & Johnson $JNJ

Morris Financial Concepts Inc. lessened its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 24.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,385 shares of the company’s stock after selling 768 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Johnson & Johnson were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of JNJ. Brighton Jones LLC boosted its stake in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after acquiring an additional 6,332 shares during the last quarter. Wealth Group Ltd. purchased a new position in shares of Johnson & Johnson during the 1st quarter worth $218,000. GAMMA Investing LLC boosted its stake in shares of Johnson & Johnson by 48.0% during the 1st quarter. GAMMA Investing LLC now owns 43,508 shares of the company’s stock worth $7,215,000 after acquiring an additional 14,118 shares during the last quarter. Kiley Juergens Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 2.5% during the 1st quarter. Kiley Juergens Wealth Management LLC now owns 17,909 shares of the company’s stock worth $2,970,000 after acquiring an additional 435 shares during the last quarter. Finally, Community Bank N.A. lifted its stake in shares of Johnson & Johnson by 4.0% during the 1st quarter. Community Bank N.A. now owns 47,656 shares of the company’s stock valued at $7,903,000 after buying an additional 1,835 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’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 directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Up 0.6%

Shares of JNJ stock opened at $193.27 on Friday. The stock has a market cap of $465.45 billion, a P/E ratio of 18.65, a PEG ratio of 2.26 and a beta of 0.40. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $180.49 and its two-hundred day simple moving average is $164.80.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS 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 33.08%. Analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson’s payout ratio is 55.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Cowen restated a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the company an “overweight” rating in a research note on Friday, October 3rd. Finally, Stifel Nicolaus lifted their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research note on Wednesday. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.59.

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.