Sierra Summit Advisors LLC Reduces Stock Position in Johnson & Johnson $JNJ

Sierra Summit Advisors LLC decreased its position in Johnson & Johnson (NYSE:JNJ) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,765 shares of the company’s stock after selling 295 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Johnson & Johnson were worth $2,103,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. GFG Capital LLC bought a new position in Johnson & Johnson during the 2nd quarter valued at approximately $35,000. Stone House Investment Management LLC purchased a new position in shares of Johnson & Johnson during the first quarter valued at approximately $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson during the first quarter valued at approximately $48,000. Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson in the first quarter worth $52,000. Finally, Pandora Wealth Inc. bought a new stake in Johnson & Johnson in the first quarter valued at $65,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JNJ has been the subject of several research reports. Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a report on Monday, October 20th. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their price target for the stock from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the company an “overweight” rating in a research report on Friday, October 3rd. Daiwa America raised Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Sanford C. Bernstein lifted their price target 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. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.05.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $203.88 on Friday. The company has a 50 day simple moving average of $188.25 and a two-hundred day simple moving average of $171.67. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $206.94. The company has a market capitalization of $491.21 billion, a price-to-earnings ratio of 19.68, 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.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.6%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate 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.