High Note Wealth LLC Invests $2.10 Million in Johnson & Johnson (NYSE:JNJ)

High Note Wealth LLC purchased a new position in Johnson & Johnson (NYSE:JNJGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,814 shares of the company’s stock, valued at approximately $2,097,000.

Other institutional investors have also recently made changes to their positions in the company. Charter Research & Investment Group Inc. increased its stake in Johnson & Johnson by 0.3% in the second quarter. Charter Research & Investment Group Inc. now owns 33,234 shares of the company’s stock valued at $5,899,000 after acquiring an additional 107 shares during the last quarter. WINTON GROUP Ltd increased its stake in Johnson & Johnson by 11.0% in the second quarter. WINTON GROUP Ltd now owns 32,448 shares of the company’s stock valued at $5,760,000 after acquiring an additional 3,222 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Johnson & Johnson by 12.1% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,138,512 shares of the company’s stock valued at $379,607,000 after acquiring an additional 230,416 shares during the last quarter. Red Wave Investments LLC increased its stake in Johnson & Johnson by 2.0% in the second quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock valued at $530,000 after acquiring an additional 59 shares during the last quarter. Finally, Truvestments Capital LLC increased its stake in Johnson & Johnson by 1.8% in the second quarter. Truvestments Capital LLC now owns 19,745 shares of the company’s stock valued at $3,505,000 after acquiring an additional 354 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.

Insiders Place Their Bets

In other Johnson & Johnson news, insider William Hait sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $171.55, for a total value of $2,573,250.00. Following the completion of the sale, the insider now directly owns 80,236 shares in the company, valued at $13,764,485.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the firm’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 in the company, valued at $18,864,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Hait sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $171.55, for a total transaction of $2,573,250.00. Following the transaction, 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 worth $20,230,174 over the last three months. Company insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. 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 research note on Wednesday, October 19th. Raymond James cut their price target on shares of Johnson & Johnson from $192.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, October 19th. Sanford C. Bernstein cut their price target on shares of Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. Credit Suisse Group assumed coverage on shares of Johnson & Johnson in a research report on Thursday. They set a “neutral” rating and a $170.00 price target for the company. Finally, Citigroup cut their price target on shares of Johnson & Johnson from $201.00 to $198.00 in a research report on Wednesday, October 5th. 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 company. Based on data from MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $176.20 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.18 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $167.84 and a 200-day moving average of $171.40. The firm has a market cap of $460.67 billion, a P/E ratio of 24.54, a P/E/G ratio of 3.44 and a beta of 0.57. Johnson & Johnson has a 1-year low of $155.72 and a 1-year high of $186.69.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The company 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%. Johnson & Johnson’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 earnings per share. Sell-side analysts expect that Johnson & Johnson will post 10.04 EPS for the current year.

Johnson & Johnson declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to buy up to 1.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be issued a $1.13 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $4.52 annualized dividend and a yield of 2.57%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 62.95%.

About Johnson & Johnson

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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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