Davidson Trust Co. Sells 764 Shares of Johnson & Johnson $JNJ

Davidson Trust Co. lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,530 shares of the company’s stock after selling 764 shares during the period. Johnson & Johnson makes up about 1.5% of Davidson Trust Co.’s holdings, making the stock its 15th biggest position. Davidson Trust Co.’s holdings in Johnson & Johnson were worth $3,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of JNJ. Nuveen LLC bought a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $1,369,188,000. Bank of New York Mellon Corp raised its position in shares of 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 valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Pacer Advisors Inc. raised its position in shares of Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after purchasing an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. raised its position in shares of 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 valued at $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $401,420,000. Institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HSBC boosted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. UBS Group boosted their price objective on shares of Johnson & Johnson from $190.00 to $214.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup boosted their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Erste Group Bank raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Finally, Barclays boosted their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $199.59.

Johnson & Johnson Price Performance

JNJ stock opened at $191.79 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.40. The stock has a market cap of $461.90 billion, a PE ratio of 18.51, a P/E/G ratio of 2.40 and a beta of 0.40. The firm has a 50 day simple moving average of $180.09 and a two-hundred day simple moving average of $164.52.

Johnson & Johnson (NYSE:JNJ) last released 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 33.08%. The business had revenue of $24.02 billion during the quarter. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

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.