Exchange Capital Management Inc. grew its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 15.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,725 shares of the company’s stock after buying an additional 3,331 shares during the quarter. Exchange Capital Management Inc.’s holdings in Johnson & Johnson were worth $3,777,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. River Street Advisors LLC boosted its holdings in shares of Johnson & Johnson by 0.9% in the second quarter. River Street Advisors LLC now owns 12,897 shares of the company’s stock worth $1,970,000 after buying an additional 112 shares during the period. Abacus Planning Group Inc. boosted its holdings in shares of Johnson & Johnson by 4.5% in the second quarter. Abacus Planning Group Inc. now owns 10,482 shares of the company’s stock worth $1,601,000 after buying an additional 452 shares during the period. Hilltop National Bank acquired a new position in shares of Johnson & Johnson in the second quarter worth about $1,817,000. Triad Wealth Partners LLC boosted its holdings in shares of Johnson & Johnson by 72.0% in the second quarter. Triad Wealth Partners LLC now owns 6,369 shares of the company’s stock worth $973,000 after buying an additional 2,667 shares during the period. Finally, Red Mountain Financial LLC boosted its holdings in shares of Johnson & Johnson by 32.9% during the second quarter. Red Mountain Financial LLC now owns 2,071 shares of the company’s stock worth $303,000 after purchasing an additional 513 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.
Johnson & Johnson Stock Performance
JNJ stock opened at $188.51 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $453.98 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $189.78. The firm has a 50 day moving average of $176.18 and a two-hundred day moving average of $162.83.
Johnson & Johnson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson’s payout ratio is presently 55.61%.
Insider Buying and Selling at Johnson & Johnson
In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company’s stock.
Wall Street Analyst Weigh In
JNJ has been the subject of several research reports. Morgan Stanley raised their price target on shares of Johnson & Johnson from $171.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings restated a “hold (c+)” rating on shares of Johnson & Johnson in a report on Saturday, September 27th. Bank of America raised their price target on shares of Johnson & Johnson from $175.00 to $198.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $188.88.
Read Our Latest Analysis on Johnson & Johnson
Johnson & Johnson Company 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.
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