Archford Capital Strategies LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ – Get Rating) by 0.7% during the second quarter, Holdings Channel.com reports. The fund owned 9,731 shares of the company’s stock after purchasing an additional 64 shares during the quarter. Archford Capital Strategies LLC’s holdings in Johnson & Johnson were worth $1,727,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of JNJ. Kayne Anderson Rudnick Investment Management LLC increased its position in Johnson & Johnson by 0.3% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 129,485 shares of the company’s stock worth $22,153,000 after acquiring an additional 350 shares during the period. Fort Point Capital Partners LLC increased its position in Johnson & Johnson by 16.1% during the fourth quarter. Fort Point Capital Partners LLC now owns 4,360 shares of the company’s stock worth $746,000 after acquiring an additional 605 shares during the period. Clearstead Advisors LLC grew its stake in Johnson & Johnson by 4.5% during the fourth quarter. Clearstead Advisors LLC now owns 65,601 shares of the company’s stock worth $11,222,000 after buying an additional 2,807 shares in the last quarter. Quantitative Investment Management LLC acquired a new stake in Johnson & Johnson during the fourth quarter worth about $5,922,000. Finally, Mmbg Investment Advisors CO. acquired a new stake in Johnson & Johnson during the fourth quarter worth about $996,000. 68.59% of the stock is owned by institutional investors.
Johnson & Johnson Stock Down 1.0 %
Shares of NYSE JNJ opened at $163.28 on Thursday. The company has a 50 day simple moving average of $168.25 and a 200 day simple moving average of $174.16. The firm has a market cap of $429.29 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17.
Johnson & Johnson declared that its board has initiated a stock repurchase program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Johnson & Johnson Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $1.13 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a yield of 2.77%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 65.79%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. SVB Leerink reduced their price objective on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. UBS Group reduced their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Morgan Stanley reduced their price objective on shares of 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 price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. Finally, Citigroup reduced their price objective on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.78.
About Johnson & Johnson
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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