Doheny Asset Management CA Has $1.32 Million Stake in Johnson & Johnson (NYSE:JNJ)

Doheny Asset Management CA cut its stake in shares of Johnson & Johnson (NYSE:JNJ) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,022 shares of the company’s stock after selling 868 shares during the quarter. Doheny Asset Management CA’s holdings in Johnson & Johnson were worth $1,319,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on JNJ shares. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research report on Friday, September 20th. TD Securities reduced their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, September 23rd. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $161.40 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm’s 50-day simple moving average is $162.15 and its 200 day simple moving average is $154.21. The stock has a market cap of $388.44 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

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

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, August 27th. 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.