Johnson & Johnson (NYSE:JNJ) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 12.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 459,173 shares of the company’s stock after acquiring an additional 49,696 shares during the period. Johnson & Johnson comprises about 2.7% of Crestwood Advisors Group LLC’s portfolio, making the stock its 4th largest holding. Crestwood Advisors Group LLC’s holdings in Johnson & Johnson were worth $81,508,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hoylecohen LLC raised its stake in Johnson & Johnson by 8.8% during the 4th quarter. Hoylecohen LLC now owns 136,846 shares of the company’s stock valued at $23,410,000 after purchasing an additional 11,124 shares during the period. True North Advisors LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $6,808,000. Asset Allocation & Management Company LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $1,436,000. Alberta Investment Management Corp raised its stake in Johnson & Johnson by 23.8% during the 4th quarter. Alberta Investment Management Corp now owns 506,608 shares of the company’s stock valued at $86,665,000 after purchasing an additional 97,467 shares during the period. Finally, MKT Advisors LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $508,000. Institutional investors and hedge funds own 68.59% of the company’s stock.

Johnson & Johnson Trading Up 1.5 %

Johnson & Johnson stock opened at $167.60 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.17. The company has a market capitalization of $440.65 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.95 and a beta of 0.61. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69. The company’s fifty day moving average price is $168.96 and its two-hundred day moving average price is $174.23.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its earnings results on Tuesday, July 19th. The company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.57 by $0.02. The firm had revenue of $24.02 billion for the quarter, compared to the consensus estimate of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.48 earnings per share. On average, analysts forecast that Johnson & Johnson will post 10.7 earnings per share for the current fiscal year.

Johnson & Johnson announced that its board has initiated a share buyback 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They set an “outperform” rating on the stock. UBS Group dropped their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. SVB Leerink dropped their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a research note on Wednesday, July 20th. Citigroup dropped their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Finally, Morgan Stanley dropped their price target on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $189.78.

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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