Harmony Asset Management LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Harmony Asset Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 22.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,211 shares of the company’s stock after buying an additional 3,490 shares during the period. Johnson & Johnson makes up approximately 1.2% of Harmony Asset Management LLC’s portfolio, making the stock its 26th biggest position. Harmony Asset Management LLC’s holdings in Johnson & Johnson were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Citizens & Northern Corp boosted its holdings in Johnson & Johnson by 3.5% in the second quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock worth $275,000 after purchasing an additional 63 shares in the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Johnson & Johnson by 0.4% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock valued at $2,643,000 after acquiring an additional 64 shares in the last quarter. Epic Trust Investment Advisors LLC lifted its holdings in Johnson & Johnson by 3.6% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock worth $268,000 after purchasing an additional 64 shares during the last quarter. Pine Harbor Wealth Management LLC boosted its position in Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after purchasing an additional 64 shares during the period. Finally, Outfitter Financial LLC raised its position in shares of Johnson & Johnson by 0.4% in the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock valued at $2,431,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on JNJ. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Friday. Morgan Stanley boosted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. TD Cowen decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, TD Securities reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.4 %

Shares of NYSE JNJ opened at $164.16 on Monday. The stock has a market cap of $395.08 billion, a PE ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The business has a fifty day moving average of $161.30 and a two-hundred day moving average of $154.12. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. 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 previous year, the business earned $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Johnson & Johnson Company Profile

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.