Garner Asset Management Corp Cuts Position in Johnson & Johnson (NYSE:JNJ)

Garner Asset Management Corp decreased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,941 shares of the company’s stock after selling 123 shares during the period. Garner Asset Management Corp’s holdings in Johnson & Johnson were worth $722,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new position in Johnson & Johnson in the 1st quarter worth about $31,000. MFA Wealth Advisors LLC purchased a new stake in Johnson & Johnson during the 2nd quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at about $44,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Johnson & Johnson in the second quarter worth about $46,000. 69.55% of the stock is owned by institutional investors.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several analyst reports. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Morgan Stanley raised their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $166.17 on Thursday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The firm has a market capitalization of $399.92 billion, a price-to-earnings ratio of 10.36, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $160.71 and a 200 day moving average of $154.09.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.98%. Johnson & Johnson’s payout ratio is currently 30.92%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.