Johnson & Johnson (NYSE:JNJ) Shares Purchased by Second Line Capital LLC

Second Line Capital LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,272 shares of the company’s stock after acquiring an additional 1,134 shares during the quarter. Second Line Capital LLC’s holdings in Johnson & Johnson were worth $624,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Citizens & Northern Corp grew its holdings in Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after buying an additional 63 shares during the last quarter. Epic Trust Investment Advisors LLC boosted its position in shares of Johnson & Johnson by 3.6% in the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after acquiring an additional 64 shares during the period. Pine Harbor Wealth Management LLC grew its stake in shares of Johnson & Johnson by 1.9% in the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after acquiring an additional 64 shares during the last quarter. Outfitter Financial LLC increased its position in Johnson & Johnson by 0.4% during the second quarter. Outfitter Financial LLC now owns 16,632 shares of the company’s stock worth $2,431,000 after acquiring an additional 65 shares during the period. Finally, Forza Wealth Management LLC boosted its holdings in Johnson & Johnson by 0.8% in the 2nd quarter. Forza Wealth Management LLC now owns 8,742 shares of the company’s stock valued at $1,278,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $161.40 on Monday. The stock has a market capitalization of $388.44 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 2.69 and a beta of 0.53. The firm’s 50-day moving average price is $162.15 and its two-hundred day moving average price is $154.16. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates 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 for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.80 EPS. On average, equities analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Morgan Stanley lifted their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group lowered their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven investment 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. According to MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Buying and Selling at Johnson & Johnson

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. Corporate insiders own 0.16% of the company’s stock.

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.