Thrive Wealth Management LLC Has $2.99 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Thrive Wealth Management LLC increased its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,831 shares of the company’s stock after acquiring an additional 1,062 shares during the quarter. Johnson & Johnson comprises about 1.0% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 18th largest position. Thrive Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,988,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in JNJ. Norges Bank acquired a new position in shares of Johnson & Johnson during the fourth quarter valued at $4,172,929,000. BlackRock Inc. lifted its stake in shares of Johnson & Johnson by 2.6% during the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock valued at $34,217,654,000 after acquiring an additional 4,982,885 shares during the period. GQG Partners LLC increased its holdings in Johnson & Johnson by 1,109.4% in the fourth quarter. GQG Partners LLC now owns 3,954,383 shares of the company’s stock valued at $676,375,000 after purchasing an additional 3,627,424 shares during the last quarter. Vanguard Group Inc. increased its holdings in Johnson & Johnson by 1.4% in the first 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 during the last quarter. Finally, State Street Corp increased its holdings in Johnson & Johnson by 1.8% in the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock valued at $24,750,004,000 after purchasing an additional 2,492,359 shares during the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.

Johnson & Johnson Stock Down 0.8 %

NYSE:JNJ opened at $166.28 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.42. The company has a market cap of $437.18 billion, a PE ratio of 24.20, a PEG ratio of 2.99 and a beta of 0.61. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The stock has a 50-day simple moving average of $168.96 and a 200 day simple moving average of $174.33.

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

Johnson & Johnson declared that its Board of Directors has approved a stock repurchase plan on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Johnson & Johnson Announces Dividend

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

Wall Street Analyst Weigh In

JNJ has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating for the company in a report on Monday, September 12th. Citigroup dropped their price objective on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Daiwa Capital Markets initiated coverage on Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. SVB Leerink dropped their price objective on Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Finally, UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus target price of $189.78.

About Johnson & Johnson

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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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