Sound Income Strategies LLC Increases Position in Johnson & Johnson (NYSE:JNJ)

Sound Income Strategies LLC boosted its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 12.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,636 shares of the company’s stock after purchasing an additional 4,020 shares during the period. Sound Income Strategies LLC’s holdings in Johnson & Johnson were worth $6,503,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after purchasing an additional 3,358,478 shares in the last quarter. BlackRock Inc. grew its position in shares of Johnson & Johnson by 0.4% during the 1st quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after buying an additional 777,837 shares during the last quarter. State Street Corp grew its position in shares of Johnson & Johnson by 1.8% during the 4th quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after buying an additional 2,492,359 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Johnson & Johnson by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after buying an additional 265,330 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after buying an additional 509,818 shares during the last quarter. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Johnson & Johnson Trading Down 0.8 %

Shares of NYSE:JNJ opened at $166.28 on Tuesday. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The firm has a market cap of $437.18 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.99 and a beta of 0.61. The company has a 50 day moving average of $168.96 and a 200-day moving average of $174.33. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.

Johnson & Johnson (NYSE:JNJGet Rating) last released its earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business had revenue of $24.02 billion during the quarter, compared to analyst estimates of $23.85 billion. During the same period in the prior year, the business earned $2.48 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson announced that its board has approved a stock repurchase plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio is presently 65.79%.

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent research reports. SVB Leerink lowered their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating for the company. Wells Fargo & Company boosted their target price on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Finally, UBS Group reduced their target price on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $189.78.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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