Bowen Hanes & Co. Inc. Sells 310 Shares of Johnson & Johnson $JNJ

Bowen Hanes & Co. Inc. lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 38,244 shares of the company’s stock after selling 310 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Johnson & Johnson were worth $5,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. GFG Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $35,000. Stone House Investment Management LLC bought a new position in Johnson & Johnson in the 1st quarter worth $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the first quarter valued at $48,000. Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson during the first quarter valued at about $52,000. Finally, Pandora Wealth Inc. purchased a new stake in Johnson & Johnson in the first quarter worth about $65,000. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Johnson & Johnson in a research note on Friday, October 31st. Raymond James Financial lifted their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Sanford C. Bernstein lifted their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research note on Monday, October 6th. Finally, Morgan Stanley set a $190.00 price target on Johnson & Johnson in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $201.05.

Johnson & Johnson Stock Performance

JNJ opened at $203.88 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $491.21 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 2.19 and a beta of 0.38. The company has a fifty day moving average of $188.25 and a 200 day moving average of $171.55. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $206.94.

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

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

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.