Johnson & Johnson (NYSE:JNJ) Shares Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC grew its position in Johnson & Johnson (NYSE:JNJGet Rating) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,564 shares of the company’s stock after purchasing an additional 70 shares during the period. Connecticut Wealth Management LLC’s holdings in Johnson & Johnson were worth $2,408,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Patron Partners LLC grew its holdings in Johnson & Johnson by 12.7% during the first quarter. Patron Partners LLC now owns 6,625 shares of the company’s stock worth $1,174,000 after acquiring an additional 747 shares during the period. Palisade Capital Management LLC NJ grew its holdings in Johnson & Johnson by 0.3% during the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock worth $16,507,000 after acquiring an additional 250 shares during the period. Lmcg Investments LLC acquired a new stake in Johnson & Johnson during the first quarter worth about $12,462,000. Capital Wealth Planning LLC grew its holdings in Johnson & Johnson by 14.0% during the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock worth $162,445,000 after acquiring an additional 112,890 shares during the period. Finally, Tandem Investment Advisors Inc. grew its holdings in Johnson & Johnson by 4.8% during the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock worth $57,867,000 after acquiring an additional 15,003 shares during the period. 68.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Citigroup dropped their target price on Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. SVB Leerink lowered their price target on Johnson & Johnson from $200.00 to $194.00 in a research report on Wednesday, July 20th. Daiwa Capital Markets initiated coverage on Johnson & Johnson in a research report on Wednesday, June 22nd. They set an “outperform” rating on the stock. Finally, Morgan Stanley lowered their price target on Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Monday, September 12th. Four equities research 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.78.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $166.18 on Friday. The company has a market cap of $436.92 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.95 and a beta of 0.61. The stock’s 50 day simple moving average is $168.06 and its 200-day simple moving average is $174.12. 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 (NYSE:JNJGet Rating) last released its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.02. The business had revenue of $24.02 billion for 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%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.48 earnings per share. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson declared that its Board of Directors has approved a share buyback program on Wednesday, September 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Johnson & Johnson Dividend Announcement

The business also recently disclosed 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 was Monday, August 22nd. This represents a $4.52 dividend on an annualized basis and a yield of 2.72%. Johnson & Johnson’s payout ratio is 65.79%.

Johnson & Johnson 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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