Meadow Creek Wealth Advisors LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Meadow Creek Wealth Advisors LLC grew its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,535 shares of the company’s stock after acquiring an additional 536 shares during the period. Johnson & Johnson accounts for approximately 1.4% of Meadow Creek Wealth Advisors LLC’s holdings, making the stock its 7th largest holding. Meadow Creek Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $1,160,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Magnolia Capital Management Ltd. lifted its stake in Johnson & Johnson by 0.5% in the 1st quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after buying an additional 55 shares in the last quarter. Howard Financial Services LTD. lifted its stake in Johnson & Johnson by 2.1% in the 1st quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after buying an additional 57 shares in the last quarter. American Financial Advisors LLC lifted its stake in Johnson & Johnson by 2.1% in the 1st quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock valued at $481,000 after buying an additional 57 shares in the last quarter. Taylor & Morgan Wealth Management LLC lifted its stake in Johnson & Johnson by 1.6% in the 2nd quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after buying an additional 57 shares in the last quarter. Finally, Kwmg LLC raised its holdings in Johnson & Johnson by 2.6% in the 1st quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after acquiring an additional 59 shares during the last quarter. 68.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on JNJ. Wells Fargo & Company increased their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Daiwa Capital Markets began coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Morgan Stanley cut their price target on shares of 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 cut their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a report on Wednesday, July 20th. Finally, SVB Leerink cut their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.78.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $166.18 on Friday. 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 has a 52 week low of $155.72 and a 52 week high of $186.69. The stock has a market capitalization of $436.92 billion, a PE ratio of 24.19, a P/E/G ratio of 2.95 and a beta of 0.61. The firm has a 50 day moving average of $168.06 and a two-hundred day moving average of $174.12.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The company had revenue of $24.02 billion during the quarter, compared to analysts’ expectations of $23.85 billion. During the same quarter last year, the company posted $2.48 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. On average, research analysts predict that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

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

Johnson & Johnson announced that its board has initiated a stock buyback program on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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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