Lee Financial Co Grows Position in Johnson & Johnson (NYSE:JNJ)

Lee Financial Co boosted its stake in Johnson & Johnson (NYSE:JNJGet Rating) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,554 shares of the company’s stock after purchasing an additional 77 shares during the quarter. Lee Financial Co’s holdings in Johnson & Johnson were worth $454,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Taylor & Morgan Wealth Management LLC increased its stake in Johnson & Johnson by 1.6% during 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. Circle Wealth Management LLC increased its stake in Johnson & Johnson by 0.5% during the first quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock valued at $2,007,000 after purchasing an additional 59 shares during the last quarter. Red Wave Investments LLC increased its stake in Johnson & Johnson by 2.0% during the second quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock valued at $530,000 after purchasing an additional 59 shares during the last quarter. Argus Investors Counsel Inc. increased its stake in Johnson & Johnson by 0.6% during the second quarter. Argus Investors Counsel Inc. now owns 10,936 shares of the company’s stock valued at $1,941,000 after purchasing an additional 61 shares during the last quarter. Finally, Alta Capital Management LLC increased its stake in Johnson & Johnson by 0.4% during the second quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock valued at $2,808,000 after purchasing an additional 61 shares during the last quarter. 68.59% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $176.20 on Monday. The firm has a 50-day moving average price of $167.84 and a 200 day moving average price of $171.29. The firm has a market capitalization of $460.67 billion, a PE ratio of 24.54, a P/E/G ratio of 3.49 and a beta of 0.57. The company has a quick ratio of 1.18, a current ratio of 1.43 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.

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

Johnson & Johnson announced that its board has approved a share repurchase plan on Wednesday, September 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to purchase up to 1.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders 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 yield of 2.57%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s payout ratio is 62.95%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,366,753.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 71,311 shares of the company’s stock, valued at approximately $12,366,753.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total transaction of $3,761,128.00. Following the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. The disclosure for this sale can be found here. In the last three months, insiders sold 118,795 shares of company stock valued at $20,230,174. 0.35% of the stock is owned by insiders.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. Sanford C. Bernstein lowered their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19th. Barclays started coverage on shares of 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. Atlantic Securities lowered their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, October 19th. StockNews.com started coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Finally, Citigroup lowered their price target on shares of Johnson & Johnson from $201.00 to $198.00 in a research report on Wednesday, October 5th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.

Further Reading

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

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