Berry Wealth Group LP Cuts Stock Holdings in Johnson & Johnson $JNJ

Berry Wealth Group LP lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,336 shares of the company’s stock after selling 258 shares during the period. Johnson & Johnson comprises 2.0% of Berry Wealth Group LP’s holdings, making the stock its 14th biggest position. Berry Wealth Group LP’s holdings in Johnson & Johnson were worth $2,801,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. GFG Capital LLC bought a new stake in Johnson & Johnson during the 2nd quarter valued at $35,000. Stone House Investment Management LLC bought a new stake in Johnson & Johnson during the first quarter valued at about $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the first quarter valued at about $48,000. Harvest Fund Management Co. Ltd bought a new position in Johnson & Johnson in the first quarter worth about $52,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Johnson & Johnson by 66.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 376 shares of the company’s stock valued at $57,000 after buying an additional 150 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

JNJ has been the subject of several recent analyst reports. Johnson Rice set a $190.00 price objective on shares of Johnson & Johnson and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. Argus set a $210.00 price target on Johnson & Johnson in a research report on Wednesday, October 15th. Citigroup raised their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Finally, HSBC increased their price target on Johnson & Johnson from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four research 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 company. According to MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $201.05.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $206.89 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $498.46 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.19 and a beta of 0.38. The firm’s 50 day simple moving average is $191.33 and its 200-day simple moving average is $173.36. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $207.81.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is currently 50.19%.

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.