Kellett Wealth Advisors LLC Boosts Holdings in Johnson & Johnson $JNJ

Kellett Wealth Advisors LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 15.4% during the second quarter, Holdings Channel reports. The fund owned 2,050 shares of the company’s stock after buying an additional 274 shares during the period. Kellett Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of JNJ. Nuveen LLC purchased a new position in Johnson & Johnson in the first quarter valued at approximately $1,369,188,000. Bank of New York Mellon Corp raised its stake in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after buying an additional 4,842,582 shares during the period. Pacer Advisors Inc. lifted its position in shares of Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after buying an additional 2,825,626 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Johnson & Johnson by 159.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after acquiring an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Johnson & Johnson in the 2nd quarter worth about $401,420,000. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JNJ shares. HSBC upped their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Barclays increased their target price on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, Citigroup lifted 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. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $199.59.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $190.96 on Thursday. The stock’s 50-day simple moving average is $179.68 and its two-hundred day simple moving average is $164.34. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.40. The firm has a market capitalization of $459.90 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

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

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio (DPR) is 55.61%.

Insider Activity

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson 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.