Oarsman Capital Inc. Trims Stake in Johnson & Johnson (NYSE:JNJ)

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Oarsman Capital Inc. reduced its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,875 shares of the company’s stock after selling 178 shares during the quarter. Johnson & Johnson accounts for approximately 1.8% of Oarsman Capital Inc.’s holdings, making the stock its 13th biggest holding. Oarsman Capital Inc.’s holdings in Johnson & Johnson were worth $3,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RKL Wealth Management LLC raised its position in Johnson & Johnson by 2.1% in the 2nd quarter. RKL Wealth Management LLC now owns 48,233 shares of the company’s stock worth $8,562,000 after purchasing an additional 1,010 shares during the period. Geller Advisors LLC grew its stake in Johnson & Johnson by 7.5% in the 2nd quarter. Geller Advisors LLC now owns 9,260 shares of the company’s stock worth $1,644,000 after acquiring an additional 648 shares in the last quarter. Simon Quick Advisors LLC grew its stake in Johnson & Johnson by 296.9% in the 2nd quarter. Simon Quick Advisors LLC now owns 8,739 shares of the company’s stock worth $1,495,000 after acquiring an additional 6,537 shares in the last quarter. Lokken Investment Group LLC grew its stake in Johnson & Johnson by 1.6% in the 2nd quarter. Lokken Investment Group LLC now owns 12,968 shares of the company’s stock worth $2,302,000 after acquiring an additional 201 shares in the last quarter. Finally, Keebeck Alpha LP grew its stake in Johnson & Johnson by 13.4% in the 2nd quarter. Keebeck Alpha LP now owns 4,442 shares of the company’s stock worth $788,000 after acquiring an additional 525 shares in the last quarter. 67.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research analyst reports. Raymond James dropped their target price on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 19th. Credit Suisse Group began coverage on shares of Johnson & Johnson in a research note on Thursday, November 17th. They issued a “neutral” rating and a $170.00 target price on the stock. Piper Sandler dropped their price objective on shares of Johnson & Johnson from $55.00 to $52.00 in a research note on Monday, February 6th. SVB Leerink dropped their price objective on shares of Johnson & Johnson from $194.00 to $186.00 and set an “outperform” rating on the stock in a research note on Friday, January 20th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, February 1st. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $175.71.

Johnson & Johnson Trading Down 0.4 %

NYSE JNJ opened at $162.04 on Wednesday. The company has a fifty day simple moving average of $172.25 and a two-hundred day simple moving average of $170.03. The stock has a market cap of $423.65 billion, a P/E ratio of 24.04, a P/E/G ratio of 2.79 and a beta of 0.54. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJ – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.22 by $0.13. The business had revenue of $23.71 billion during the quarter, compared to analysts’ expectations of $23.90 billion. Johnson & Johnson had a net margin of 18.90% and a return on equity of 35.94%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company posted $2.13 earnings per share. On average, analysts forecast that Johnson & Johnson will post 10.5 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be issued a $1.13 dividend. The ex-dividend date of this dividend is Friday, February 17th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.79%. Johnson & Johnson’s dividend payout ratio is currently 67.06%.

Insiders Place Their Bets

In related news, CFO Joseph J. Wolk sold 14,781 shares of the firm’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $179.60, for a total transaction of $2,654,667.60. Following the completion of the transaction, the chief financial officer now owns 35,812 shares of the company’s stock, valued at $6,431,835.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Robert J. Decker sold 16,928 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,707,775. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph J. Wolk sold 14,781 shares of the firm’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $179.60, for a total transaction of $2,654,667.60. Following the transaction, the chief financial officer now directly owns 35,812 shares of the company’s stock, valued at approximately $6,431,835.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,955 shares of company stock valued at $32,081,502. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.