Elk River Wealth Management LLC Boosts Stock Position in Johnson & Johnson (NYSE:JNJ)

Elk River Wealth Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,850 shares of the company’s stock after buying an additional 494 shares during the quarter. Johnson & Johnson makes up 2.1% of Elk River Wealth Management LLC’s holdings, making the stock its 15th largest position. Elk River Wealth Management LLC’s holdings in Johnson & Johnson were worth $8,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of JNJ. Magnolia Capital Management Ltd. increased its holdings in shares of Johnson & Johnson by 0.5% in the first quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after purchasing an additional 55 shares during the last quarter. Howard Financial Services LTD. increased its holdings in shares of Johnson & Johnson by 2.1% in the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after purchasing an additional 57 shares during the last quarter. American Financial Advisors LLC increased its holdings in shares of Johnson & Johnson by 2.1% in the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock valued at $481,000 after purchasing an additional 57 shares during the last quarter. Taylor & Morgan Wealth Management LLC increased its holdings in shares of Johnson & Johnson by 1.6% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after purchasing an additional 57 shares during the last quarter. Finally, Kwmg LLC increased its holdings in shares of Johnson & Johnson by 2.6% in the first quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup cut their target price on Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. SVB Leerink cut their target price on Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. UBS Group cut their target price on Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Wells Fargo & Company raised their target price on Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 13th. Finally, Morgan Stanley cut their target price on 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. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson Trading Down 1.0 %

JNJ opened at $163.28 on Thursday. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The business has a fifty 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 P/E ratio of 23.77, a P/E/G ratio of 2.97 and a beta of 0.61. The company has a quick ratio of 1.17, a current ratio of 1.42 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 36.14% and a net margin of 19.21%. Johnson & Johnson’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $2.48 earnings per share. On average, equities analysts expect that Johnson & Johnson will post 10.7 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced 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 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%.

Johnson & Johnson declared that its board has initiated a share buyback plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 1.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.

See Also

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

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