Delta Investment Management LLC Lowers Stock Holdings in Johnson & Johnson $JNJ

Delta Investment Management LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,390 shares of the company’s stock after selling 289 shares during the quarter. Delta Investment Management LLC’s holdings in Johnson & Johnson were worth $1,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GFG Capital LLC bought a new stake in shares of Johnson & Johnson in the second quarter worth about $35,000. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the first quarter worth about $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson in the first quarter worth about $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the first quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson during the 1st quarter valued at approximately $52,000. 69.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business’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 completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Stifel Nicolaus lifted their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a research report on Monday, October 20th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Morgan Stanley set a $190.00 price objective on Johnson & Johnson in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

Johnson & Johnson Price Performance

JNJ stock opened at $190.38 on Monday. The firm has a 50 day moving average price of $182.26 and a 200-day moving average price of $166.37. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.48. The firm has a market capitalization of $458.69 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.24 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07.

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. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion during the quarter. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

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.