Premier Path Wealth Partners LLC Sells 2,741 Shares of Johnson & Johnson $JNJ

Premier Path Wealth Partners LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,475 shares of the company’s stock after selling 2,741 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Johnson & Johnson were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new stake in Johnson & Johnson during the first quarter valued at $1,369,188,000. Bank of New York Mellon Corp increased its holdings in shares of Johnson & Johnson by 26.4% in the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock worth $3,844,580,000 after buying an additional 4,842,582 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after buying an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Johnson & Johnson by 159.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after acquiring an additional 2,557,388 shares during the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in Johnson & Johnson in the second quarter worth about $401,420,000. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JNJ shares. Citigroup upped their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $172.00 to $193.00 and gave the company a “market perform” rating in a research report on Monday, October 6th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Stifel Nicolaus lifted their price objective on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.05.

Johnson & Johnson Stock Down 0.3%

NYSE:JNJ opened at $186.39 on Thursday. The stock has a fifty day simple moving average of $182.88 and a 200-day simple moving average of $167.17. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The company has a market cap of $449.07 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.20 and a beta of 0.40. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.48.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a $1.30 dividend. 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%.

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.