Morse Asset Management Inc Sells 8,129 Shares of Johnson & Johnson (NYSE:JNJ)

Morse Asset Management Inc reduced its position in shares of Johnson & Johnson (NYSE:JNJ) by 28.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,033 shares of the company’s stock after selling 8,129 shares during the period. Morse Asset Management Inc’s holdings in Johnson & Johnson were worth $2,928,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the second quarter worth approximately $43,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $44,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Johnson & Johnson in the second quarter worth $46,000. Finally, Grayhawk Investment Strategies Inc. raised its stake in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group reduced their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Sanford C. Bernstein boosted their price objective on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Trading Down 0.4 %

Shares of Johnson & Johnson stock opened at $164.16 on Monday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The stock has a market capitalization of $395.08 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a 50-day simple moving average of $161.30 and a 200 day simple moving average of $154.12. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business posted $2.80 earnings per share. Research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Company Profile

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.