Balboa Wealth Partners Boosts Holdings in Johnson & Johnson $JNJ

Balboa Wealth Partners grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 11.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,344 shares of the company’s stock after acquiring an additional 882 shares during the quarter. Balboa Wealth Partners’ holdings in Johnson & Johnson were worth $1,275,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Apexium Financial LP raised its stake in shares of Johnson & Johnson by 10.7% during the first quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock worth $3,978,000 after acquiring an additional 2,310 shares in the last quarter. Avanza Fonder AB increased its stake in shares of Johnson & Johnson by 2.9% in the second quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after buying an additional 6,566 shares during the period. Joel Isaacson & Co. LLC increased its stake in shares of Johnson & Johnson by 3.5% in the first quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock worth $12,294,000 after buying an additional 2,526 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Johnson & Johnson by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock worth $12,164,000 after buying an additional 4,816 shares during the period. Finally, Absher Wealth Management LLC increased its stake in shares of Johnson & Johnson by 1.2% in the first quarter. Absher Wealth Management LLC now owns 215,584 shares of the company’s stock worth $35,752,000 after buying an additional 2,469 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Cowen reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Citigroup boosted their price objective on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Piper Sandler reissued an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.06.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 178,013 shares of the company’s stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Stock Up 0.3%

NYSE:JNJ opened at $193.78 on Tuesday. The firm’s 50-day moving average price is $180.89 and its 200-day moving average price is $165.18. The company has a market capitalization of $466.68 billion, a PE ratio of 18.70, a P/E/G ratio of 2.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48.

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

Johnson & Johnson Dividend Announcement

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

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.