Elevation Point Wealth Partners LLC Decreases Stock Holdings in Johnson & Johnson $JNJ

Elevation Point Wealth Partners LLC reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,710 shares of the company’s stock after selling 1,446 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Johnson & Johnson were worth $2,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JNJ. GFG Capital LLC bought a new stake in shares of Johnson & Johnson in the 2nd quarter worth approximately $35,000. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the first quarter worth $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson in the first quarter valued at $48,000. Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the 1st quarter valued at $52,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Johnson & Johnson by 66.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 376 shares of the company’s stock worth $57,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on JNJ shares. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. HSBC lifted their price objective on Johnson & Johnson from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price for the company in a research report on Monday, October 20th. Sanford C. Bernstein lifted their price target on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research report on Monday, October 6th. Finally, Stifel Nicolaus increased their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.05.

Insider Activity

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 shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.5%

JNJ stock opened at $207.75 on Thursday. The business has a 50 day moving average of $190.05 and a 200 day moving average of $172.75. The firm has a market cap of $500.53 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $207.81. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 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 fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.5%. Johnson & Johnson’s payout ratio is 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.