Heirloom Wealth Management Boosts Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Heirloom Wealth Management grew its position in Johnson & Johnson (NYSE:JNJGet Rating) by 5.5% during the second quarter, HoldingsChannel reports. The firm owned 36,919 shares of the company’s stock after buying an additional 1,922 shares during the period. Johnson & Johnson comprises approximately 5.1% of Heirloom Wealth Management’s portfolio, making the stock its 10th largest holding. Heirloom Wealth Management’s holdings in Johnson & Johnson were worth $6,283,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Johnson & Johnson by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after acquiring an additional 3,358,478 shares during the period. BlackRock Inc. lifted its position in shares of Johnson & Johnson by 0.4% during the 1st quarter. BlackRock Inc. now owns 200,799,189 shares of the company’s stock valued at $35,587,638,000 after acquiring an additional 777,837 shares during the period. Wellington Management Group LLP lifted its position in shares of Johnson & Johnson by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 32,772,594 shares of the company’s stock valued at $5,808,286,000 after acquiring an additional 265,330 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Johnson & Johnson by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 32,070,396 shares of the company’s stock valued at $5,683,837,000 after acquiring an additional 509,818 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Johnson & Johnson by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,189,229 shares of the company’s stock valued at $3,046,449,000 after acquiring an additional 328,297 shares during the period. 68.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on JNJ shares. Sanford C. Bernstein dropped their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Atlantic Securities lowered their price objective on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Citigroup lowered their price objective on shares of Johnson & Johnson from $201.00 to $198.00 in a report on Wednesday, October 5th. Bank of America reduced their target price on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a research note on Friday, October 14th. Finally, Raymond James reduced their price target on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.33.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $176.20 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $460.67 billion, a PE ratio of 24.54, a P/E/G ratio of 3.47 and a beta of 0.57. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The company has a 50-day moving average price of $167.84 and a two-hundred day moving average price of $171.35.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The firm had revenue of $23.79 billion for the quarter, compared to the consensus estimate of $23.44 billion. During the same period in the prior year, the firm posted $2.60 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s payout ratio is 62.95%.

Johnson & Johnson announced that its Board of Directors has authorized a share repurchase plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Johnson & Johnson

In other news, EVP Kathryn E. Wengel sold 16,410 shares of the stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $173.42, for a total value of $2,845,822.20. Following the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Kathryn E. Wengel sold 16,410 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $173.42, for a total value of $2,845,822.20. Following the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Hait sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now directly owns 80,236 shares in the company, valued at $13,764,485.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,795 shares of company stock valued at $20,230,174. 0.35% of the stock is currently owned by corporate insiders.

About Johnson & Johnson

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJGet Rating).

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

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.