Merit Financial Group LLC grew its stake in Johnson & Johnson (NYSE:JNJ – Free Report) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,463 shares of the company’s stock after acquiring an additional 17,565 shares during the quarter. Merit Financial Group LLC’s holdings in Johnson & Johnson were worth $15,470,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in shares of Johnson & Johnson by 374.6% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 63,023 shares of the company’s stock valued at $10,432,000 after acquiring an additional 49,743 shares during the period. Motive Wealth Advisors grew its stake in Johnson & Johnson by 20.4% during the 2nd quarter. Motive Wealth Advisors now owns 1,980 shares of the company’s stock worth $328,000 after buying an additional 336 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in Johnson & Johnson by 1.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 164,235 shares of the company’s stock worth $27,184,000 after buying an additional 1,954 shares during the last quarter. FIDELIS iM LLC purchased a new position in Johnson & Johnson during the 2nd quarter worth $207,000. Finally, Pursue Wealth Partners LLC purchased a new position in Johnson & Johnson during the 2nd quarter worth $881,000. 68.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. TheStreet upgraded Johnson & Johnson from a “c+” rating to a “b+” rating in a research note on Monday, August 21st. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Atlantic Securities boosted their target price on Johnson & Johnson from $167.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, August 4th. Credit Suisse Group lifted their price target on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Royal Bank of Canada initiated coverage on Johnson & Johnson in a research report on Wednesday, October 4th. They set an “outperform” rating and a $178.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $169.19.
Johnson & Johnson Stock Performance
Shares of JNJ stock opened at $145.60 on Monday. The stock has a market cap of $378.41 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.55. The business has a 50-day simple moving average of $158.90 and a 200-day simple moving average of $161.94. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 52-week low of $144.95 and a 52-week high of $181.04.
Johnson & Johnson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 21st will be issued a $1.19 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $4.76 annualized dividend and a dividend yield of 3.27%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 35.34%.
Johnson & Johnson Company Profile
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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