Johnson & Johnson (NYSE:JNJ) Shares Sold by Weik Capital Management

Weik Capital Management decreased its position in Johnson & Johnson (NYSE:JNJ) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,856 shares of the company’s stock after selling 2,892 shares during the quarter. Johnson & Johnson comprises approximately 1.6% of Weik Capital Management’s holdings, making the stock its 18th largest position. Weik Capital Management’s holdings in Johnson & Johnson were worth $3,633,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson during the first quarter worth $31,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth $43,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson during the fourth quarter worth $44,000. Finally, Grayhawk Investment Strategies Inc. raised its position in shares of Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $165.52 on Monday. The company has a market cap of $398.45 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The stock has a 50-day moving average of $159.55 and a 200-day moving average of $153.94. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 EPS. As a group, equities research analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.00%. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on JNJ shares. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. The Goldman Sachs Group dropped their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. TD Securities dropped their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Sanford C. Bernstein upped their price target on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.