Portfolio Design Labs LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 13,544 shares of the company's stock, valued at approximately $2,195,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson during the second quarter worth about $1,626,000. Meridian Investment Counsel Inc. boosted its position in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company's stock worth $3,667,000 after acquiring an additional 3,710 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Johnson & Johnson by 137.2% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company's stock valued at $7,061,000 after purchasing an additional 25,203 shares during the last quarter. Lmcg Investments LLC boosted its holdings in shares of Johnson & Johnson by 32.7% in the 3rd quarter. Lmcg Investments LLC now owns 87,162 shares of the company's stock valued at $14,125,000 after purchasing an additional 21,471 shares during the last quarter. Finally, WealthPlan Investment Management LLC boosted its holdings in shares of Johnson & Johnson by 7.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 61,691 shares of the company's stock valued at $9,998,000 after purchasing an additional 4,174 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson Stock Performance
JNJ traded up $0.09 during trading hours on Wednesday, hitting $153.10. The stock had a trading volume of 9,060,825 shares, compared to its average volume of 7,028,536. The company's fifty day simple moving average is $160.83 and its 200 day simple moving average is $156.19. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The stock has a market cap of $368.59 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.
Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.66 EPS. Equities analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.
Johnson & Johnson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.24%. Johnson & Johnson's payout ratio is 71.78%.
Insider Buying and Selling
In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale 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.
Analysts Set New Price Targets
A number of brokerages have recently commented on JNJ. Royal Bank of Canada raised their target price on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Guggenheim boosted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Wolfe Research started coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an "outperform" rating and a $190.00 target price on the stock. Finally, Daiwa America lowered shares of Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $175.94.
View Our Latest Analysis on Johnson & Johnson
About Johnson & Johnson
(
Free Report)
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.
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