Lyell Wealth Management LP Increases Stock Holdings in Johnson & Johnson $JNJ

Lyell Wealth Management LP lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,662 shares of the company’s stock after buying an additional 1,257 shares during the period. Lyell Wealth Management LP’s holdings in Johnson & Johnson were worth $1,170,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. GFG Capital LLC purchased a new position in Johnson & Johnson in the second quarter worth $35,000. Stone House Investment Management LLC purchased a new position in Johnson & Johnson in the first quarter worth $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson in the first quarter worth $48,000. von Borstel & Associates Inc. purchased a new position in Johnson & Johnson in the first quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson in the first quarter worth $52,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Argus set a $210.00 price objective on Johnson & Johnson in a research report on Wednesday, October 15th. Wells Fargo & Company set a $212.00 price target on Johnson & Johnson and gave the company an “overweight” rating in a research report on Friday, October 3rd. Guggenheim raised Johnson & Johnson from a “neutral” rating to a “buy” rating and upped their price target for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a research report on Monday. Finally, Citigroup upped their price target on Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $200.06.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $193.78 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.48. The firm has a market cap of $466.68 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 2.27 and a beta of 0.40. The business’s fifty day moving average is $180.89 and its 200 day moving average is $165.18.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%.The company had revenue of $24.02 billion for the quarter. Research analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.

About Johnson & Johnson

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.