Monterey Private Wealth Inc. Cuts Holdings in Johnson & Johnson (NYSE:JNJ)

Monterey Private Wealth Inc. decreased its position in Johnson & Johnson (NYSE:JNJ) by 24.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,822 shares of the company’s stock after selling 1,214 shares during the period. Monterey Private Wealth Inc.’s holdings in Johnson & Johnson were worth $633,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Atlantic Private Wealth LLC purchased a new position in Johnson & Johnson in the first quarter worth $32,000. GW&K Investment Management LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter worth about $35,000. Dark Forest Capital Management LP grew its position in Johnson & Johnson by 1,044.4% during the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after buying an additional 188 shares during the period. Ruedi Wealth Management Inc. bought a new stake in Johnson & Johnson in the fourth quarter worth about $42,000. Finally, Kepos Capital LP purchased a new position in Johnson & Johnson in the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 68.40% of the company’s stock.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, insider William Hait sold 14,698 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the completion of the sale, the insider now directly owns 87,747 shares of the company’s stock, valued at $15,092,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Johnson & Johnson news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total value of $3,406,400.00. Following the transaction, the vice president now directly owns 102,696 shares of the company’s stock, valued at approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William Hait sold 14,698 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the sale, the insider now directly owns 87,747 shares of the company’s stock, valued at approximately $15,092,484. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Johnson & Johnson Stock Up 0.6 %

Shares of NYSE:JNJ opened at $162.41 on Tuesday. The firm has a fifty day moving average of $166.21 and a 200 day moving average of $161.83. Johnson & Johnson has a 52-week low of $150.11 and a 52-week high of $181.04. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market capitalization of $422.10 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 3.26 and a beta of 0.54.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. The firm had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.59 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.03 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were paid a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.93%. Johnson & Johnson’s dividend payout ratio (DPR) is 96.36%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JNJ. Raymond James decreased their price target on shares of Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating for the company in a research note on Tuesday, September 5th. Wells Fargo & Company lowered their target price on Johnson & Johnson from $195.00 to $186.00 and set an “overweight” rating on the stock in a research note on Thursday, August 31st. Atlantic Securities increased their price target on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. JPMorgan Chase & Co. upped their price objective on shares of Johnson & Johnson from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, July 21st. Finally, TheStreet raised shares of Johnson & Johnson from a “c+” rating to a “b+” rating in a research report on Monday, August 21st. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $170.65.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.