Brookstone Capital Management Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Brookstone Capital Management lifted its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,913 shares of the company’s stock after acquiring an additional 2,912 shares during the quarter. Brookstone Capital Management’s holdings in Johnson & Johnson were worth $10,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Family CFO Inc purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at about $26,000. RE Dickinson Investment Advisors LLC boosted its stake in Johnson & Johnson by 163.3% in the 1st quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the period. Advanced Research Investment Solutions LLC grew its holdings in Johnson & Johnson by 200.0% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 120 shares in the last quarter. Professional Financial Advisors LLC raised its position in shares of Johnson & Johnson by 47.9% during the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after buying an additional 68 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth $38,000. 68.59% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $164.97 on Wednesday. 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 stock’s fifty day moving average is $168.71 and its 200 day moving average is $174.30. The firm has a market capitalization of $433.74 billion, a PE ratio of 24.01, a PEG ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a fifty-two week low of $155.72 and a fifty-two week high of $186.69.

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

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

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were paid a dividend of $1.13 per share. The ex-dividend date was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.74%. Johnson & Johnson’s dividend payout ratio is 65.79%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research reports. UBS Group reduced their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Citigroup dropped their price target on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Morgan Stanley reduced their price objective on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Wells Fargo & Company increased their target price on Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 13th. Finally, Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.

Further Reading

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

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