Lokken Investment Group LLC Decreases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Lokken Investment Group LLC cut its stake in Johnson & Johnson (NYSE:JNJ) by 12.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,299 shares of the company’s stock after selling 2,038 shares during the period. Johnson & Johnson makes up approximately 1.0% of Lokken Investment Group LLC’s holdings, making the stock its 26th largest holding. Lokken Investment Group LLC’s holdings in Johnson & Johnson were worth $2,090,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $4,071,642,000. Wellington Management Group LLP increased its stake in shares of Johnson & Johnson by 16.4% during the 4th quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Johnson & Johnson by 16.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after purchasing an additional 3,139,499 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Johnson & Johnson by 10.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after buying an additional 1,831,751 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Johnson & Johnson by 16.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock valued at $1,921,565,000 after buying an additional 1,829,257 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $167.07 on Wednesday. The firm has a fifty day simple moving average of $160.38 and a 200-day simple moving average of $154.01. The company has a market capitalization of $402.08 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.80 earnings per share. Equities research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

Several research analysts recently weighed in on JNJ shares. Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. TD Securities dropped their price objective on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen reduced their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.