Shoker Investment Counsel Inc. Purchases 356 Shares of Johnson & Johnson (NYSE:JNJ)

Shoker Investment Counsel Inc. grew its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,924 shares of the company’s stock after buying an additional 356 shares during the quarter. Johnson & Johnson accounts for approximately 1.7% of Shoker Investment Counsel Inc.’s portfolio, making the stock its 15th largest holding. Shoker Investment Counsel Inc.’s holdings in Johnson & Johnson were worth $3,181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Balasa Dinverno & Foltz LLC grew its stake in shares of Johnson & Johnson by 2.7% during the second quarter. Balasa Dinverno & Foltz LLC now owns 41,079 shares of the company’s stock valued at $7,292,000 after buying an additional 1,086 shares during the last quarter. Agate Pass Investment Management LLC grew its stake in shares of Johnson & Johnson by 1.3% during the second quarter. Agate Pass Investment Management LLC now owns 17,832 shares of the company’s stock valued at $3,165,000 after buying an additional 235 shares during the last quarter. Altrius Capital Management Inc purchased a new stake in shares of Johnson & Johnson during the second quarter worth about $4,571,000. Financial Network Wealth Management LLC boosted its holdings in shares of Johnson & Johnson by 4.2% during the second quarter. Financial Network Wealth Management LLC now owns 2,147 shares of the company’s stock worth $381,000 after purchasing an additional 87 shares during the period. Finally, Vickerman Investment Advisors Inc. boosted its holdings in shares of Johnson & Johnson by 5.8% during the second quarter. Vickerman Investment Advisors Inc. now owns 16,556 shares of the company’s stock worth $2,939,000 after purchasing an additional 913 shares during the period. 68.59% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

JNJ stock opened at $174.86 on Friday. The firm has a 50 day moving average price of $167.63 and a 200-day moving average price of $171.41. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The firm has a market capitalization of $457.17 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 3.42 and a beta of 0.57. 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 (NYSE:JNJGet Rating) last released its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.06. The firm had revenue of $23.79 billion during the quarter, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $2.60 earnings per share. Equities research analysts forecast that Johnson & Johnson will post 10.04 EPS for the current fiscal year.

Johnson & Johnson announced that its board has approved a share repurchase program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, November 22nd will be given a dividend of $1.13 per share. 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 currently 62.95%.

Insider Activity at Johnson & Johnson

In related news, EVP Kathryn E. Wengel sold 16,410 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,410 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, November 9th. The shares were 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 legal filing with the SEC, which is available at the SEC website. Also, insider William Hait sold 15,000 shares of Johnson & Johnson stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the completion of the sale, the insider now directly owns 80,236 shares of the company’s stock, valued at approximately $13,764,485.80. The disclosure for this sale can be found here. Insiders sold 118,795 shares of company stock valued at $20,230,174 over the last 90 days. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JNJ. Sanford C. Bernstein dropped their target price on shares of Johnson & Johnson from $194.00 to $190.00 in a report on Wednesday, October 19th. UBS Group lowered their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. Morgan Stanley lowered their price objective on shares of Johnson & Johnson from $174.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, October 19th. Bank of America lowered their price objective on shares of Johnson & Johnson from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, October 14th. Finally, StockNews.com started coverage on shares of Johnson & Johnson in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average price target 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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