Sanctuary Advisors LLC Makes New $66.81 Million Investment in Johnson & Johnson (NYSE:JNJ)

Sanctuary Advisors LLC acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 2nd quarter, Holdings Channel reports. The fund acquired 457,188 shares of the company’s stock, valued at approximately $66,813,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. Meridian Financial Partners LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $1,626,000. Summit Financial Wealth Advisors LLC increased its stake in Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after buying an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC lifted its position in Johnson & Johnson by 0.7% during the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after buying an additional 325 shares in the last quarter. Capital Asset Advisory Services LLC grew its holdings in shares of Johnson & Johnson by 8.8% in the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after acquiring an additional 2,151 shares in the last quarter. Finally, NTV Asset Management LLC increased its position in shares of Johnson & Johnson by 1.6% in the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after acquiring an additional 565 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $162.02 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The business has a fifty day simple moving average of $162.50 and a 200 day simple moving average of $154.21. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a market capitalization of $389.93 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the company posted $2.80 earnings per share. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 30.92%.

Analysts Set New Price Targets

A number of research firms have weighed in on JNJ. The Goldman Sachs Group decreased their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein increased their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Friday, September 20th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction 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 completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. 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 currently owned by company insiders.

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.