Summit Asset Management LLC Sells 1,207 Shares of Johnson & Johnson $JNJ

Summit Asset Management LLC decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,375 shares of the company’s stock after selling 1,207 shares during the quarter. Summit Asset Management LLC’s holdings in Johnson & Johnson were worth $2,196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of JNJ. Midwest Trust Co bought a new position in Johnson & Johnson in the 2nd quarter worth about $28,206,000. DJE Kapital AG grew its stake in Johnson & Johnson by 14.3% in the second quarter. DJE Kapital AG now owns 22,134 shares of the company’s stock worth $3,365,000 after purchasing an additional 2,770 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Johnson & Johnson by 34.7% during the 2nd quarter. Acadian Asset Management LLC now owns 1,617,173 shares of the company’s stock worth $246,993,000 after purchasing an additional 416,748 shares during the period. CSM Advisors LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at $19,372,000. Finally, Sound View Wealth Advisors Group LLC lifted its holdings in shares of Johnson & Johnson by 0.9% in the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 70,743 shares of the company’s stock worth $10,806,000 after buying an additional 624 shares during the period. 69.55% of the stock is owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated 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 transaction, 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 filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JNJ has been the topic of several research reports. Loop Capital set a $190.00 price target on Johnson & Johnson in a research note on Wednesday, October 22nd. Stifel Nicolaus raised their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Erste Group Bank raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Raymond James Financial lifted their price objective 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. Finally, Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $199.05.

Johnson & Johnson Stock Down 0.3%

NYSE:JNJ opened at $186.50 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 $449.34 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.19 and a beta of 0.38. The company’s 50-day simple moving average is $184.25 and its 200-day simple moving average is $168.70. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $194.48.

Johnson & Johnson (NYSE:JNJ) last posted its 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 company had revenue of $24.02 billion during the quarter. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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