AlphaCore Capital LLC Buys 5,686 Shares of Johnson & Johnson $JNJ

AlphaCore Capital LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 27.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,505 shares of the company’s stock after purchasing an additional 5,686 shares during the quarter. AlphaCore Capital LLC’s holdings in Johnson & Johnson were worth $4,049,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. GFG Capital LLC acquired a new stake in Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $47,000. 1248 Management LLC bought a new stake in Johnson & Johnson in the 1st quarter valued at approximately $48,000. Harvest Fund Management Co. Ltd acquired a new position in Johnson & Johnson during the 1st quarter worth approximately $52,000. Finally, Pandora Wealth Inc. bought a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $65,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $203.88 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $491.21 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 2.19 and a beta of 0.38. The firm’s 50-day simple moving average is $188.25 and its 200 day simple moving average is $171.55. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $206.94.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The firm had revenue of $24.02 billion for the quarter. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is 50.19%.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on JNJ. Scotiabank began coverage on shares of Johnson & Johnson in a research report on Thursday, November 13th. They issued a “sector outperform” rating and a $230.00 price objective on the stock. Citigroup boosted their price target on shares of Johnson & Johnson from $213.00 to $215.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group increased their price objective on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Royal Bank Of Canada reiterated an “outperform” rating and set a $209.00 target price on shares of Johnson & Johnson in a report on Friday, October 10th. Finally, Argus set a $210.00 price target on Johnson & Johnson in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.05.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.