Johnson & Johnson (NYSE:JNJ) Shares Acquired by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 141.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,174 shares of the company’s stock after buying an additional 4,198 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,049,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Johnson & Johnson during the fourth quarter worth about $4,071,642,000. Wellington Management Group LLP boosted its holdings in Johnson & Johnson by 16.4% in the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock valued at $3,764,852,000 after purchasing an additional 3,391,657 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock valued at $3,453,978,000 after purchasing an additional 3,139,499 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Johnson & Johnson by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,945,533 shares of the company’s stock valued at $2,483,532,000 after purchasing an additional 241,799 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Johnson & Johnson by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,169,190 shares of the company’s stock valued at $1,593,908,000 after purchasing an additional 975,485 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $167.27 on Thursday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. 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 50 day simple moving average of $156.82 and a 200-day simple moving average of $153.70. The stock has a market capitalization of $402.57 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 2.73 and a beta of 0.52.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 2.97%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the 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 owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.