Agate Pass Investment Management LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Agate Pass Investment Management LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,832 shares of the company’s stock after buying an additional 235 shares during the period. Johnson & Johnson accounts for 2.2% of Agate Pass Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Agate Pass Investment Management LLC’s holdings in Johnson & Johnson were worth $3,165,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Palisade Capital Management LLC NJ grew its position in shares of Johnson & Johnson by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 93,141 shares of the company’s stock valued at $16,507,000 after purchasing an additional 250 shares during the period. Lmcg Investments LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at $12,462,000. Capital Wealth Planning LLC grew its position in shares of Johnson & Johnson by 14.0% in the first quarter. Capital Wealth Planning LLC now owns 916,575 shares of the company’s stock valued at $162,445,000 after purchasing an additional 112,890 shares during the period. Tandem Investment Advisors Inc. grew its position in shares of Johnson & Johnson by 4.8% in the first quarter. Tandem Investment Advisors Inc. now owns 326,505 shares of the company’s stock valued at $57,867,000 after purchasing an additional 15,003 shares during the period. Finally, Tcwp LLC purchased a new stake in shares of Johnson & Johnson in the first quarter valued at $946,000. Hedge funds and other institutional investors own 68.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 19th. UBS Group reduced their target price on Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Credit Suisse Group assumed coverage on Johnson & Johnson in a report on Thursday. They issued a “neutral” rating on the stock. Sanford C. Bernstein reduced their target price on Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. Finally, Atlantic Securities reduced their target price on Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Wednesday, October 19th. Seven analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.25.

Insider Buying and Selling

In related 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 directly 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 can be accessed through this link. In related 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 directly 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 can be accessed through this link. 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 $18,864,202. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,795 shares of company stock worth $20,230,174. 0.35% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Up 0.8 %

NYSE:JNJ opened at $174.86 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. Johnson & Johnson has a one year low of $155.72 and a one year high of $186.69. The business’s 50-day simple moving average is $167.63 and its 200 day simple moving average is $171.41. The stock has a market cap of $457.17 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 3.42 and a beta of 0.57.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, October 18th. The company reported $2.55 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 business had revenue of $23.79 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 10.04 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Monday, November 21st. Johnson & Johnson’s dividend payout ratio (DPR) is 62.95%.

Johnson & Johnson announced that its Board of Directors has authorized a stock buyback plan on Wednesday, September 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.

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

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