Evergreen Wealth Management LLC Reduces Stock Holdings in Johnson & Johnson $JNJ

Evergreen Wealth Management LLC lowered its position in Johnson & Johnson (NYSE:JNJ) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,655 shares of the company’s stock after selling 672 shares during the quarter. Johnson & Johnson accounts for approximately 1.9% of Evergreen Wealth Management LLC’s holdings, making the stock its 19th biggest holding. Evergreen Wealth Management LLC’s holdings in Johnson & Johnson were worth $3,308,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Quaker Wealth Management LLC increased its position in shares of Johnson & Johnson by 199.7% in the second quarter. Quaker Wealth Management LLC now owns 3,132 shares of the company’s stock valued at $478,000 after buying an additional 6,273 shares in the last quarter. Oarsman Capital Inc. increased its position in Johnson & Johnson by 0.6% during the 2nd quarter. Oarsman Capital Inc. now owns 17,669 shares of the company’s stock worth $2,699,000 after purchasing an additional 97 shares in the last quarter. Bank of Jackson Hole Trust increased its position in Johnson & Johnson by 20.6% during the 2nd quarter. Bank of Jackson Hole Trust now owns 9,962 shares of the company’s stock worth $1,522,000 after purchasing an additional 1,704 shares in the last quarter. Motco increased its position in Johnson & Johnson by 0.5% during the 2nd quarter. Motco now owns 72,301 shares of the company’s stock worth $11,911,000 after purchasing an additional 337 shares in the last quarter. Finally, Strategic Financial Services Inc. increased its position in Johnson & Johnson by 1.7% during the 2nd quarter. Strategic Financial Services Inc. now owns 9,443 shares of the company’s stock worth $1,442,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

JNJ has been the subject of a number of recent research reports. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $209.00 price objective on shares of Johnson & Johnson in a research report on Friday, October 10th. Bank of America lifted their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Barclays lifted their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $199.05.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value 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. The trade was a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Down 1.8%

Shares of NYSE:JNJ opened at $186.94 on Wednesday. The stock’s 50-day moving average price is $182.72 and its two-hundred day moving average price is $166.92. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48. The firm has a market cap of $450.40 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 2.24 and a beta of 0.40.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Johnson & Johnson Company 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.