Spreng Capital Management Inc. Sells 175 Shares of Johnson & Johnson $JNJ

Spreng Capital Management Inc. trimmed its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 2.9% during the 2nd quarter, Holdings Channel reports. The fund owned 5,771 shares of the company’s stock after selling 175 shares during the period. Spreng Capital Management Inc.’s holdings in Johnson & Johnson were worth $881,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. GFG Capital LLC bought a new position in Johnson & Johnson during the 2nd quarter worth about $35,000. Stone House Investment Management LLC bought a new position in Johnson & Johnson during the 1st quarter worth about $47,000. 1248 Management LLC bought a new position in Johnson & Johnson during the 1st quarter worth about $48,000. von Borstel & Associates Inc. bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $52,000. 69.55% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.6%

JNJ stock opened at $193.27 on Friday. The firm has a 50 day moving average of $180.49 and a 200 day moving average of $164.86. The stock has a market capitalization of $465.45 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $194.40.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The company had revenue of $24.02 billion during the quarter. Sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 50.19%.

Analyst Ratings Changes

A number of research firms have recently weighed in on JNJ. Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the company from $167.00 to $206.00 in a report on Tuesday, September 23rd. Cowen restated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday. Argus set a $210.00 price target on shares of Johnson & Johnson in a report on Wednesday. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Wednesday, July 23rd. Finally, Weiss Ratings upgraded shares of Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.59.

Johnson & Johnson Company 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.