Raymond James & Associates raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,670,895 shares of the company’s stock after acquiring an additional 128,618 shares during the quarter. Johnson & Johnson makes up about 0.7% of Raymond James & Associates’ holdings, making the stock its 22nd largest holding. Raymond James & Associates owned 0.14% of Johnson & Johnson worth $516,242,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in JNJ. Altshuler Shaham Ltd purchased a new position in Johnson & Johnson in the 1st quarter worth approximately $35,000. Lake Point Wealth Management lifted its position in Johnson & Johnson by 144.4% during the first quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock worth $38,000 after buying an additional 169 shares in the last quarter. SeaBridge Investment Advisors LLC boosted its stake in Johnson & Johnson by 160.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock worth $46,000 after buying an additional 200 shares during the last quarter. Lion Street Advisors LLC acquired a new position in Johnson & Johnson during the first quarter worth $45,000. Finally, Joseph P. Lucia & Associates LLC grew its holdings in Johnson & Johnson by 50.8% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 374 shares of the company’s stock valued at $49,000 after buying an additional 126 shares in the last quarter. 68.44% of the stock is owned by institutional investors and hedge funds.
JNJ has been the topic of a number of analyst reports. SVB Leerink reaffirmed an “outperform” rating on shares of Johnson & Johnson in a research note on Wednesday, July 15th. UBS Group lowered shares of Johnson & Johnson from a “buy” rating to a “neutral” rating and reduced their price target for the company from $163.00 to $160.00 in a research report on Tuesday, April 28th. Stifel Nicolaus raised their target price on Johnson & Johnson from $140.00 to $155.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Credit Suisse Group reaffirmed a “buy” rating and issued a $161.00 price target on shares of Johnson & Johnson in a research note on Tuesday, April 28th. Finally, Independent Research raised Johnson & Johnson from a “hold” rating to a “buy” rating and raised their price objective for the stock from $161.00 to $164.00 in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $163.38.
In related news, EVP Ashley Mcevoy sold 29,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $147.47, for a total value of $4,276,630.00. Following the completion of the transaction, the executive vice president now owns 21,682 shares in the company, valued at $3,197,444.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.
Johnson & Johnson stock opened at $145.76 on Friday. The firm has a market capitalization of $383.76 billion, a P/E ratio of 21.31, a P/E/G ratio of 3.23 and a beta of 0.69. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. Johnson & Johnson has a twelve month low of $109.16 and a twelve month high of $157.00. The stock’s fifty day simple moving average is $144.04 and its 200-day simple moving average is $144.14.
Johnson & Johnson (NYSE:JNJ) last released its earnings results on Thursday, July 16th. The company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.17. The firm had revenue of $18.34 billion during the quarter, compared to analysts’ expectations of $17.73 billion. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. Johnson & Johnson’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. Sell-side analysts predict that Johnson & Johnson will post 7.85 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.77%. Johnson & Johnson’s payout ratio is 46.54%.
About Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
Further Reading: Gross Domestic Product (GDP)
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