Envestnet Portfolio Solutions Inc. Sells 29,819 Shares of Johnson & Johnson $JNJ

Envestnet Portfolio Solutions Inc. lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,829 shares of the company’s stock after selling 29,819 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Johnson & Johnson were worth $15,249,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Apexium Financial LP grew its holdings in shares of Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock worth $3,978,000 after purchasing an additional 2,310 shares during the last quarter. Avanza Fonder AB grew its holdings in shares of Johnson & Johnson by 2.9% in the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after purchasing an additional 6,566 shares during the last quarter. Joel Isaacson & Co. LLC grew its holdings in shares of Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock worth $12,294,000 after purchasing an additional 2,526 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Johnson & Johnson by 7.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock worth $12,164,000 after purchasing an additional 4,816 shares during the last quarter. Finally, Absher Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 1.2% in the 1st quarter. Absher Wealth Management LLC now owns 215,584 shares of the company’s stock worth $35,752,000 after purchasing an additional 2,469 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Raymond James Financial increased their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group increased their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a report on Tuesday. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Finally, Cowen reissued a “buy” rating on shares of Johnson & Johnson in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.59.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $190.96 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.40. The company has a market cap of $459.90 billion, a PE ratio of 18.43, a PEG ratio of 2.40 and a beta of 0.40. The company’s 50-day moving average is $179.68 and its two-hundred day moving average is $164.34.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The company 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%. Equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 55.61%.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on 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. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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.