Pekin Hardy Strauss Inc. Trims Stock Position in Johnson & Johnson $JNJ

Pekin Hardy Strauss Inc. lowered its position in shares of Johnson & Johnson (NYSE:JNJ) by 24.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,869 shares of the company’s stock after selling 5,199 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Johnson & Johnson were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Clark Asset Management LLC boosted its position in shares of Johnson & Johnson by 51.6% during the second quarter. Clark Asset Management LLC now owns 8,884 shares of the company’s stock worth $1,357,000 after buying an additional 3,025 shares during the period. Apexium Financial LP grew its position in Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock valued at $3,978,000 after acquiring an additional 2,310 shares in the last quarter. Avanza Fonder AB lifted its position in shares of Johnson & Johnson by 2.9% during the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after purchasing an additional 6,566 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Johnson & Johnson by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock valued at $12,164,000 after purchasing an additional 4,816 shares during the period. Finally, Klingman & Associates LLC increased its stake in Johnson & Johnson by 13.4% during the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock worth $2,817,000 after buying an additional 2,005 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JNJ has been the subject of several research reports. Bank of America boosted their price target on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Erste Group Bank upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, Johnson Rice set a $190.00 price target on shares of Johnson & Johnson and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Johnson & Johnson Stock Up 0.5%

Shares of NYSE:JNJ opened at $186.92 on Friday. The firm has a 50 day simple moving average of $184.06 and a 200-day simple moving average of $168.42. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.48. 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 capitalization of $450.33 billion, a PE ratio of 18.04, a P/E/G ratio of 2.19 and a beta of 0.38.

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

Johnson & Johnson Announces Dividend

The company 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 annualized dividend and a yield of 2.8%. Johnson & Johnson’s payout ratio is 50.19%.

Insider Buying and Selling at Johnson & Johnson

In other 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 transaction, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.