VestGen Advisors LLC Sells 1,591 Shares of Johnson & Johnson $JNJ

VestGen Advisors LLC lessened its holdings in Johnson & Johnson (NYSE:JNJ) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,995 shares of the company’s stock after selling 1,591 shares during the quarter. VestGen Advisors LLC’s holdings in Johnson & Johnson were worth $4,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in JNJ. Norges Bank purchased a new stake in Johnson & Johnson in the 2nd quarter valued at about $4,877,174,000. Nuveen LLC bought a new stake in shares of Johnson & Johnson during the first quarter valued at approximately $1,369,188,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Johnson & Johnson by 15,040.6% in the second quarter. Laurel Wealth Advisors LLC now owns 7,420,699 shares of the company’s stock valued at $1,133,512,000 after purchasing an additional 7,371,687 shares during the period. Vanguard Group Inc. grew its stake in Johnson & Johnson by 1.3% in the second quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after purchasing an additional 3,085,180 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after purchasing an additional 2,557,388 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on JNJ. Johnson Rice set a $190.00 target price on Johnson & Johnson and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Loop Capital set a $190.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 22nd. Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price on the stock in a report on Monday, October 20th. Cowen restated a “buy” rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $209.00 price target on shares of Johnson & Johnson in a research report on Friday, October 10th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $201.05.

Insiders Place Their Bets

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $206.89 on Monday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $207.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The firm 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 stock’s 50-day simple moving average is $191.33 and its 200-day simple moving average is $173.72.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share 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 dividend on an annualized basis and a yield of 2.5%. Johnson & Johnson’s payout ratio is currently 50.19%.

Johnson & Johnson Company 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.