Fortitude Family Office LLC Buys 6,518 Shares of Johnson & Johnson (NYSE:JNJ)

Fortitude Family Office LLC increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 453.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,957 shares of the company's stock after buying an additional 6,518 shares during the quarter. Fortitude Family Office LLC's holdings in Johnson & Johnson were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in JNJ. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the 2nd quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company's stock worth $40,000 after buying an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC boosted its position in Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company's stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth about $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Johnson & Johnson in the 2nd quarter worth about $46,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Up 0.4 %

Shares of JNJ stock traded up $0.69 on Wednesday, hitting $160.78. The stock had a trading volume of 2,268,936 shares, compared to its average volume of 6,968,132. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The stock has a market cap of $386.95 billion, a price-to-earnings ratio of 10.00, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52. The business has a 50 day moving average of $163.45 and a 200 day moving average of $155.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analysts' expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.46%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.66 EPS. As a group, analysts expect that Johnson & Johnson will post 9.94 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson's dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

JNJ has been the subject of a number of research analyst reports. TD Securities lowered their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Cantor Fitzgerald reissued an "overweight" rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Morgan Stanley upped their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $175.93.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company's stock, valued at approximately $3,131,683.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

About Johnson & Johnson

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.