Hoese & Co LLP Cuts Position in Johnson & Johnson $JNJ

Hoese & Co LLP lessened its stake in Johnson & Johnson (NYSE:JNJ) by 5.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,049 shares of the company’s stock after selling 115 shares during the quarter. Johnson & Johnson accounts for 0.3% of Hoese & Co LLP’s investment portfolio, making the stock its 25th largest position. Hoese & Co LLP’s holdings in Johnson & Johnson were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target 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. Bank of America raised 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. The Goldman Sachs Group raised their price target on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Argus set a $210.00 price target on shares of Johnson & Johnson in a research note on Wednesday. Finally, Morgan Stanley set a $190.00 price target on shares of Johnson & Johnson in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.88.

Johnson & Johnson Price Performance

JNJ opened at $193.27 on Monday. The company’s 50 day simple moving average is $180.49 and its 200 day simple moving average is $164.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $194.40. The stock has a market capitalization of $465.45 billion, a PE ratio of 18.65, a P/E/G ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last released its 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 business had revenue of $24.02 billion for the quarter. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS 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. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is 50.19%.

Insiders Place Their Bets

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

About Johnson & Johnson

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.