Allen Wealth Management LLC Lowers Stock Position in Johnson & Johnson $JNJ

Allen Wealth Management LLC lessened its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,060 shares of the company’s stock after selling 100 shares during the period. Allen Wealth Management LLC’s holdings in Johnson & Johnson were worth $467,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of JNJ. Brighton Jones LLC raised its stake in shares of Johnson & Johnson by 13.9% during the 4th quarter. Brighton Jones LLC now owns 51,876 shares of the company’s stock worth $7,502,000 after acquiring an additional 6,332 shares in the last quarter. Wealth Group Ltd. bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $218,000. GAMMA Investing LLC increased its stake in Johnson & Johnson by 48.0% during the 1st quarter. GAMMA Investing LLC now owns 43,508 shares of the company’s stock valued at $7,215,000 after purchasing an additional 14,118 shares in the last quarter. ShankerValleau Wealth Advisors Inc. acquired a new position in Johnson & Johnson during the 1st quarter valued at approximately $202,000. Finally, Azzad Asset Management Inc. ADV acquired a new position in Johnson & Johnson during the 1st quarter valued at approximately $6,351,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent analyst reports. Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price target for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Citigroup upped their price target on shares of Johnson & Johnson from $200.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Sanford C. Bernstein increased their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight 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 price target of $192.94.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $190.66 on Monday. The stock has a market capitalization of $459.16 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.40 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $192.10. The firm’s fifty day simple moving average is $178.48 and its 200-day simple moving average is $163.78.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio is 55.61%.

Insider Buying and Selling at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

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.