Johnson & Johnson (NYSE:JNJ) Shares Sold by Bridgeworth LLC

Bridgeworth LLC reduced its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,649 shares of the company’s stock after selling 83 shares during the quarter. Bridgeworth LLC’s holdings in Johnson & Johnson were worth $1,358,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. RE Dickinson Investment Advisors LLC raised its holdings in Johnson & Johnson by 163.3% during the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Advanced Research Investment Solutions LLC increased its position in Johnson & Johnson by 200.0% during the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock worth $32,000 after buying an additional 120 shares in the last quarter. Morton Brown Family Wealth LLC increased its position in Johnson & Johnson by 78.0% during the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock worth $32,000 after buying an additional 78 shares in the last quarter. Professional Financial Advisors LLC increased its position in Johnson & Johnson by 47.9% during the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock worth $37,000 after buying an additional 68 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in Johnson & Johnson during the second quarter worth $39,000. 68.59% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $176.20 on Monday. Johnson & Johnson has a twelve month low of $155.72 and a twelve month high of $186.69. The stock has a market capitalization of $460.67 billion, a P/E ratio of 24.54, a PEG ratio of 3.49 and a beta of 0.57. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $167.84 and its 200 day moving average price is $171.29.

Johnson & Johnson (NYSE:JNJGet Rating) last issued its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. Johnson & Johnson had a return on equity of 35.37% and a net margin of 19.95%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.60 earnings per share. As a group, research analysts anticipate that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson declared that its board has approved a stock buyback program on Wednesday, September 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.2% of its stock through open market purchases. Stock repurchase 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 will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio is presently 62.95%.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total transaction of $2,845,822.20. Following the transaction, the executive vice president now owns 71,311 shares in the company, valued at $12,366,753.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Thibaut Mongon sold 35,246 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $171.18, for a total value of $6,033,410.28. Following the transaction, the vice president now owns 40,133 shares in the company, valued at $6,869,966.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kathryn E. Wengel sold 16,410 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total value of $2,845,822.20. Following the completion of the transaction, the executive vice president now owns 71,311 shares in the company, valued at approximately $12,366,753.62. The disclosure for this sale can be found here. Insiders have sold a total of 118,795 shares of company stock worth $20,230,174 over the last quarter. 0.35% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. Citigroup dropped their price target on Johnson & Johnson from $201.00 to $198.00 in a research report on Wednesday, October 5th. Barclays initiated coverage on Johnson & Johnson in a research report on Monday, October 17th. They set an “equal weight” rating and a $175.00 price target for the company. Morgan Stanley lowered their price objective on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Raymond James lowered their price objective on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Finally, Atlantic Securities lowered their price objective on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, October 19th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.33.

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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