Sculati Wealth Management LLC Lowers Stake in Johnson & Johnson $JNJ

Sculati Wealth Management LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 2.4% during the second quarter, Holdings Channel.com reports. The firm owned 15,132 shares of the company’s stock after selling 372 shares during the quarter. Sculati Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,311,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. GFG Capital LLC bought a new stake in Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson in the 1st quarter worth about $47,000. 1248 Management LLC bought a new position in Johnson & Johnson in the 1st quarter worth about $48,000. Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson during the 1st quarter valued at about $52,000. Finally, Pandora Wealth Inc. purchased a new position in Johnson & Johnson in the first quarter worth about $65,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on JNJ. Cowen reiterated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Daiwa Capital Markets upgraded Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price on the stock in a research note on Monday, October 20th. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Bank of America increased their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Finally, Johnson Rice set a $190.00 target price on shares of Johnson & Johnson and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $201.05.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.4%

JNJ stock opened at $196.00 on Friday. The company has a market cap of $472.22 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.19 and a beta of 0.38. 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 business’s 50-day moving average is $185.81 and its two-hundred day moving average is $169.94. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $197.18.

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

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors 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 annualized dividend and a yield of 2.7%. Johnson & Johnson’s payout ratio is 50.19%.

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.