Innova Wealth Partners raised its stake in Johnson & Johnson (NYSE:JNJ – Get Rating) by 25.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,964 shares of the company’s stock after acquiring an additional 400 shares during the period. Innova Wealth Partners’ holdings in Johnson & Johnson were worth $349,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of JNJ. Magnolia Capital Management Ltd. raised its stake in Johnson & Johnson by 0.5% during the 1st quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after purchasing an additional 55 shares during the period. Howard Financial Services LTD. raised its stake in Johnson & Johnson by 2.1% during the 1st quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after purchasing an additional 57 shares during the period. American Financial Advisors LLC raised its stake in Johnson & Johnson by 2.1% during the 1st quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock valued at $481,000 after purchasing an additional 57 shares during the period. Taylor & Morgan Wealth Management LLC raised its stake in Johnson & Johnson by 1.6% during the 2nd 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 period. Finally, Kwmg LLC raised its stake in Johnson & Johnson by 2.6% during the 1st quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after purchasing an additional 59 shares during the period. 68.59% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Trading Down 0.8 %
Shares of NYSE:JNJ opened at $164.97 on Wednesday. The stock has a market capitalization of $433.74 billion, a PE ratio of 24.01, a P/E/G ratio of 2.97 and a beta of 0.61. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The firm has a fifty day moving average price of $168.71 and a 200 day moving average price of $174.30. The company has a current ratio of 1.42, a quick ratio of 1.17 and a debt-to-equity ratio of 0.37.
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 Dividend Announcement
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 2.74%. The ex-dividend date was Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is 65.79%.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Citigroup cut their target price on shares of Johnson & Johnson from $205.00 to $201.00 in a research note on Wednesday, July 20th. Daiwa Capital Markets assumed coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They set an “outperform” rating on the stock. UBS Group lowered their price target on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. SVB Leerink lowered their price target on shares of Johnson & Johnson from $200.00 to $194.00 in a report on Wednesday, July 20th. Finally, Morgan Stanley lowered 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 report on Monday, September 12th. Four 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.78.
About Johnson & Johnson
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.
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