Aspen Investment Management Inc Reduces Position in Johnson & Johnson $JNJ

Aspen Investment Management Inc decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,314 shares of the company’s stock after selling 491 shares during the quarter. Aspen Investment Management Inc’s holdings in Johnson & Johnson were worth $1,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JNJ. W.H. Cornerstone Investments Inc. raised its stake in Johnson & Johnson by 0.7% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 7,896 shares of the company’s stock worth $1,206,000 after acquiring an additional 58 shares during the last quarter. Greenup Street Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 3.1% in the second quarter. Greenup Street Wealth Management LLC now owns 2,021 shares of the company’s stock valued at $309,000 after purchasing an additional 60 shares during the period. Ellis Investment Partners LLC raised its stake in shares of Johnson & Johnson by 0.7% in the second quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company’s stock worth $1,307,000 after purchasing an additional 62 shares during the last quarter. Cypress Wealth Services LLC lifted its holdings in shares of Johnson & Johnson by 0.9% during the second quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company’s stock worth $1,013,000 after purchasing an additional 62 shares during the period. Finally, Horizon Bancorp Inc. IN boosted its position in Johnson & Johnson by 11.2% in the second quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company’s stock valued at $97,000 after buying an additional 64 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction 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 of the company’s stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $200.10 on Wednesday. The stock has a market capitalization of $482.11 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.19 and a beta of 0.38. The stock has a 50-day moving average of $186.69 and a 200 day moving average of $170.77. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $200.30.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company 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%. Sell-side analysts anticipate 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. Investors of record on Tuesday, November 25th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Analyst Ratings Changes

JNJ has been the subject of a number of recent research reports. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Citigroup increased their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Argus set a $210.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 15th. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a research report on Monday, October 20th. Finally, Raymond James Financial boosted their price objective on Johnson & Johnson from $174.00 to $209.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $201.05.

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.