Jessup Wealth Management Inc lifted its stake in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 15.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,041 shares of the company’s stock after purchasing an additional 1,243 shares during the period. Jessup Wealth Management Inc’s holdings in Johnson & Johnson were worth $1,496,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the stock. Kovack Advisors Inc. lifted its position in shares of Johnson & Johnson by 38.8% during the second quarter. Kovack Advisors Inc. now owns 24,279 shares of the company’s stock worth $4,019,000 after purchasing an additional 6,787 shares during the last quarter. Sigma Investment Counselors Inc. lifted its position in shares of Johnson & Johnson by 18.0% during the second quarter. Sigma Investment Counselors Inc. now owns 12,516 shares of the company’s stock worth $2,072,000 after purchasing an additional 1,905 shares during the last quarter. Northern Financial Advisors Inc lifted its position in shares of Johnson & Johnson by 26.6% during the second quarter. Northern Financial Advisors Inc now owns 6,396 shares of the company’s stock worth $1,059,000 after purchasing an additional 1,344 shares during the last quarter. RNC Capital Management LLC raised its stake in Johnson & Johnson by 0.3% during the second quarter. RNC Capital Management LLC now owns 259,019 shares of the company’s stock worth $42,873,000 after acquiring an additional 813 shares during the period. Finally, PDS Planning Inc raised its stake in Johnson & Johnson by 7.2% during the second quarter. PDS Planning Inc now owns 15,450 shares of the company’s stock worth $2,557,000 after acquiring an additional 1,037 shares during the period. Institutional investors own 68.40% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on JNJ shares. Raymond James dropped their price objective on shares of Johnson & Johnson from $184.00 to $179.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 5th. Morgan Stanley dropped their price objective on shares of Johnson & Johnson from $187.00 to $172.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 31st. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 29th. JPMorgan Chase & Co. increased their price objective on shares of Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday, October 2nd. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.06.
Insider Activity
In other news, insider William Hait sold 14,698 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the transaction, the insider now owns 87,747 shares in the company, valued at approximately $15,092,484. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $170.32, for a total value of $3,406,400.00. Following the transaction, the vice president now owns 102,696 shares in the company, valued at approximately $17,491,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $172.00, for a total transaction of $2,528,056.00. Following the completion of the transaction, the insider now owns 87,747 shares in the company, valued at approximately $15,092,484. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.
Johnson & Johnson Stock Up 0.3 %
JNJ stock opened at $157.64 on Monday. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. The company has a market cap of $409.70 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.19 and a beta of 0.55. The company has a 50 day moving average of $164.30 and a two-hundred day moving average of $162.40.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last released its earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. Johnson & Johnson had a net margin of 13.35% and a return on equity of 36.72%. The company had revenue of $25.53 billion during the quarter, compared to the consensus estimate of $24.63 billion. During the same quarter in the prior year, the firm earned $2.59 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.
Johnson & Johnson Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 28th were issued a dividend of $1.19 per share. The ex-dividend date was Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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