Legacy Capital Wealth Partners LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Legacy Capital Wealth Partners LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 1.7% in the third quarter, HoldingsChannel.com reports. The fund owned 7,295 shares of the company’s stock after purchasing an additional 121 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,182,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in JNJ. Innealta Capital LLC purchased a new position in Johnson & Johnson during the second quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the 3rd quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the period. Morton Brown Family Wealth LLC boosted its holdings in Johnson & Johnson by 400.0% in the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the second quarter worth about $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. TD Cowen reduced their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Guggenheim lifted their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.00.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.8 %

NYSE:JNJ opened at $155.47 on Monday. The firm has a market capitalization of $374.31 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a 50 day moving average of $162.61 and a 200-day moving average of $155.86.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period last year, the company earned $2.66 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.