Nan Shan Life Insurance Co. Ltd. Sells 43,229 Shares of Johnson & Johnson $JNJ

Nan Shan Life Insurance Co. Ltd. trimmed its holdings in Johnson & Johnson (NYSE:JNJ) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 261,045 shares of the company’s stock after selling 43,229 shares during the quarter. Johnson & Johnson accounts for 1.0% of Nan Shan Life Insurance Co. Ltd.’s portfolio, making the stock its 28th largest holding. Nan Shan Life Insurance Co. Ltd.’s holdings in Johnson & Johnson were worth $43,292,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Highline Wealth Partners LLC boosted its position in shares of Johnson & Johnson by 51.8% in the first quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock valued at $42,000 after acquiring an additional 86 shares during the period. Stone House Investment Management LLC bought a new position in Johnson & Johnson in the first quarter worth $47,000. von Borstel & Associates Inc. bought a new position in Johnson & Johnson in the first quarter worth $49,000. Capital A Wealth Management LLC bought a new position in Johnson & Johnson in the fourth quarter worth $50,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson in the first quarter worth $52,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $176.26 on Tuesday. The stock has a 50-day simple moving average of $161.70 and a 200 day simple moving average of $158.60. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $177.57. The stock has a market capitalization of $424.49 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 2.25 and a beta of 0.41.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.09. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business had revenue of $23.74 billion during the quarter, compared to analysts’ expectations of $22.85 billion. During the same period in the previous year, the business posted $2.82 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson’s payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JNJ. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Leerink Partners cut Johnson & Johnson from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $169.00 to $153.00 in a research report on Tuesday, May 13th. Leerink Partnrs cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 13th. Guggenheim reaffirmed a “neutral” rating and issued a $167.00 target price (up from $164.00) on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, UBS Group raised their target price on Johnson & Johnson from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.50.

Johnson & Johnson Company 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.