Financial Gravity Asset Management Inc. Has $15.74 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Financial Gravity Asset Management Inc. raised its position in Johnson & Johnson (NYSE:JNJGet Rating) by 151.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,587 shares of the company’s stock after acquiring an additional 9,400 shares during the period. Financial Gravity Asset Management Inc.’s holdings in Johnson & Johnson were worth $15,738,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 1.4% in the first quarter. Vanguard Group Inc. now owns 238,141,110 shares of the company’s stock valued at $42,205,749,000 after buying an additional 3,358,478 shares during the period. GQG Partners LLC raised its stake in shares of Johnson & Johnson by 64.4% in the first quarter. GQG Partners LLC now owns 6,501,761 shares of the company’s stock valued at $1,151,931,000 after buying an additional 2,547,378 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Johnson & Johnson by 37.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,653,610 shares of the company’s stock valued at $1,179,219,000 after buying an additional 1,805,632 shares during the period. Swiss National Bank raised its stake in shares of Johnson & Johnson by 14.0% in the first quarter. Swiss National Bank now owns 11,402,516 shares of the company’s stock valued at $2,020,868,000 after buying an additional 1,396,500 shares during the period. Finally, Bridgewater Associates LP raised its stake in shares of Johnson & Johnson by 40.3% in the first quarter. Bridgewater Associates LP now owns 4,345,002 shares of the company’s stock valued at $770,065,000 after buying an additional 1,247,260 shares during the period. Institutional investors and hedge funds own 68.59% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $173.42, for a total transaction of $2,845,822.20. Following the completion of the sale, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,366,753.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Kathryn E. Wengel sold 16,410 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was 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 owns 71,311 shares of the company’s stock, valued at approximately $12,366,753.62. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Peter Fasolo sold 22,864 shares of the business’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $164.50, for a total value of $3,761,128.00. Following the completion of the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at approximately $18,864,202. The disclosure for this sale can be found here. Insiders sold a total of 118,795 shares of company stock valued at $20,230,174 over the last 90 days. Insiders own 0.35% of the company’s stock.

Johnson & Johnson Trading Down 3.0 %

Shares of JNJ stock opened at $169.25 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.43 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $166.88 and a two-hundred day moving average price of $171.68. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The firm has a market cap of $442.50 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 3.45 and a beta of 0.57.

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

Johnson & Johnson announced that its board has authorized a share repurchase plan on Wednesday, September 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to buy up to 1.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is currently 62.95%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on JNJ shares. Sanford C. Bernstein reduced their price target on Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. StockNews.com started coverage on Johnson & Johnson in a research report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Morgan Stanley reduced their price target on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 19th. Raymond James reduced their price target on Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Finally, Citigroup reduced their price target on Johnson & Johnson from $201.00 to $198.00 in a research report on Wednesday, October 5th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.25.

Johnson & Johnson 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.

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

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