FRG Family Wealth Advisors LLC Cuts Stake in Johnson & Johnson $JNJ

by · The Markets Daily

FRG Family Wealth Advisors LLC reduced its stake in shares of Johnson & Johnson (NYSE:JNJFree Report) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,725 shares of the company’s stock after selling 2,390 shares during the quarter. Johnson & Johnson comprises approximately 0.8% of FRG Family Wealth Advisors LLC’s holdings, making the stock its 26th largest position. FRG Family Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $4,846,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in Johnson & Johnson by 27.7% during the 2nd quarter. Assetmark Inc. now owns 109,402 shares of the company’s stock valued at $16,711,000 after buying an additional 23,740 shares in the last quarter. Buck Wealth Strategies LLC increased its position in Johnson & Johnson by 332.3% in the second quarter. Buck Wealth Strategies LLC now owns 9,056 shares of the company’s stock worth $1,383,000 after purchasing an additional 6,961 shares during the last quarter. Arkadios Wealth Advisors increased its position in Johnson & Johnson by 23.4% in the second quarter. Arkadios Wealth Advisors now owns 75,032 shares of the company’s stock worth $11,461,000 after purchasing an additional 14,204 shares during the last quarter. World Investment Advisors increased its position in Johnson & Johnson by 36.3% in the second quarter. World Investment Advisors now owns 131,395 shares of the company’s stock worth $20,071,000 after purchasing an additional 34,964 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Johnson & Johnson by 0.4% in the second quarter. Flagship Harbor Advisors LLC now owns 29,561 shares of the company’s stock worth $4,515,000 after purchasing an additional 125 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on JNJ shares. Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 22nd. Royal Bank Of Canada restated an “outperform” rating and issued a $209.00 price target on shares of Johnson & Johnson in a research report on Friday, October 10th. Weiss Ratings upgraded shares of Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a research report on Monday, October 20th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $199.05.

Read Our Latest Analysis on JNJ

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.3%

Shares of JNJ opened at $186.39 on Thursday. The firm has a market capitalization of $449.07 billion, a P/E ratio of 17.99, a P/E/G ratio of 2.20 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.48. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $182.88 and a 200-day moving average price of $167.17.

Johnson & Johnson (NYSE:JNJGet Free Report) last issued its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm 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%. Equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is currently 50.19%.

Johnson & Johnson Profile

(Free Report)

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.

See Also

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