Obermeyer Wealth Partners Sells 118,283 Shares of Johnson & Johnson $JNJ

Obermeyer Wealth Partners cut its position in shares of Johnson & Johnson (NYSE:JNJ) by 88.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,808 shares of the company’s stock after selling 118,283 shares during the period. Obermeyer Wealth Partners’ holdings in Johnson & Johnson were worth $2,415,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Johnson & Johnson by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 23,802,503 shares of the company’s stock worth $3,635,832,000 after purchasing an additional 620,039 shares during the period. Access Investment Management LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at $1,016,000. Machina Capital S.A.S. raised its stake in shares of Johnson & Johnson by 115.6% in the 2nd quarter. Machina Capital S.A.S. now owns 31,328 shares of the company’s stock valued at $4,785,000 after buying an additional 16,798 shares in the last quarter. Tsfg LLC boosted its position in shares of Johnson & Johnson by 17.9% during the 2nd quarter. Tsfg LLC now owns 3,107 shares of the company’s stock valued at $475,000 after acquiring an additional 472 shares in the last quarter. Finally, Intellectus Partners LLC increased its stake in Johnson & Johnson by 0.8% in the second quarter. Intellectus Partners LLC now owns 9,938 shares of the company’s stock valued at $1,518,000 after acquiring an additional 75 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $189.02 on Monday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.48. The stock has a market capitalization of $455.40 billion, a PE ratio of 18.25, a PEG ratio of 2.19 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The stock’s fifty day moving average is $183.28 and its 200-day moving average is $167.75.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The firm had revenue of $24.02 billion for the quarter. Equities research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Raymond James Financial raised their price target on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Stifel Nicolaus increased their target price on Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Johnson Rice set a $190.00 price target on Johnson & Johnson and gave the company a “hold” rating in a research note on Wednesday, October 22nd. UBS Group increased their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, Argus set a $210.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 15th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.05.

About Johnson & Johnson

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.