Benedict Financial Advisors Inc. lifted its position in Johnson & Johnson (NYSE:JNJ – Get Rating) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,001 shares of the company's stock after buying an additional 1,605 shares during the quarter. Johnson & Johnson comprises 3.2% of Benedict Financial Advisors Inc.'s investment portfolio, making the stock its 3rd largest holding. Benedict Financial Advisors Inc.'s holdings in Johnson & Johnson were worth $10,828,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Howard Financial Services LTD. raised its stake in shares of Johnson & Johnson by 2.1% in the first quarter. Howard Financial Services LTD. now owns 2,757 shares of the company's stock valued at $489,000 after purchasing an additional 57 shares in the last quarter. American Financial Advisors LLC raised its stake in shares of Johnson & Johnson by 2.1% in the first quarter. American Financial Advisors LLC now owns 2,715 shares of the company's stock valued at $481,000 after purchasing an additional 57 shares in the last quarter. Taylor & Morgan Wealth Management LLC grew its position in Johnson & Johnson by 1.6% in the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company's stock valued at $635,000 after acquiring an additional 57 shares during the period. Kwmg LLC grew its position in Johnson & Johnson by 2.6% in the first quarter. Kwmg LLC now owns 2,354 shares of the company's stock valued at $417,000 after acquiring an additional 59 shares during the period. Finally, Circle Wealth Management LLC grew its position in Johnson & Johnson by 0.5% in the first quarter. Circle Wealth Management LLC now owns 11,326 shares of the company's stock valued at $2,007,000 after acquiring an additional 59 shares during the period. Institutional investors own 68.59% of the company's stock.
Get Johnson & Johnson alerts:Analyst Ratings Changes
A number of brokerages have weighed in on JNJ. Sanford C. Bernstein lowered their price target on Johnson & Johnson from $194.00 to $190.00 in a research report on Wednesday, October 19th. UBS Group lowered their price target on Johnson & Johnson from $185.00 to $180.00 in a research report on Thursday, July 21st. StockNews.com began coverage on Johnson & Johnson in a research report on Wednesday, October 12th. They issued a "strong-buy" rating on the stock. Atlantic Securities decreased 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. Finally, Raymond James decreased their target price on Johnson & Johnson from $192.00 to $185.00 and set an "outperform" rating on the stock in a report on Wednesday, October 19th. Six analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of "Moderate Buy" and an average price target of $184.25.
Johnson & Johnson Price Performance
Johnson & Johnson stock opened at $167.81 on Monday. The business's 50-day simple moving average is $164.86 and its 200 day simple moving average is $172.52. The stock has a market cap of $441.20 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 3.50 and a beta of 0.56. Johnson & Johnson has a 12-month low of $155.72 and a 12-month high of $186.69. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.37.
Johnson & Johnson (NYSE:JNJ – Get Rating) last released its earnings results on Tuesday, October 18th. The company reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. Johnson & Johnson had a return on equity of 35.32% and a net margin of 19.95%. The firm had revenue of $23.79 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The company's quarterly revenue was up 1.9% on a year-over-year basis. As a group, research analysts anticipate that Johnson & Johnson will post 10.05 earnings per share for the current year.
Johnson & Johnson Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 22nd will be paid a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.69%. The ex-dividend date is Monday, November 21st. Johnson & Johnson's payout ratio is 62.95%.
Johnson & Johnson announced that its board has approved a share buyback program on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 1.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Johnson & Johnson
In other Johnson & Johnson news, VP Peter Fasolo sold 22,864 shares of the stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $164.50, for a total value of $3,761,128.00. Following the transaction, the vice president now owns 114,676 shares of the company's stock, valued at $18,864,202. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.35% of the company's stock.
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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