Allworth Financial LP Boosts Position in Johnson & Johnson (NYSE:JNJ)

Allworth Financial LP boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 296,904 shares of the company’s stock after acquiring an additional 7,196 shares during the quarter. Allworth Financial LP’s holdings in Johnson & Johnson were worth $48,116,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Meridian Financial Partners LLC purchased a new stake in Johnson & Johnson in the second quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC increased its position in Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after buying an additional 1,122 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC increased its position in Johnson & Johnson by 0.7% in the first 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. NTV Asset Management LLC increased its position in Johnson & Johnson by 1.6% in the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock worth $5,695,000 after buying an additional 565 shares in the last quarter. Finally, Cooper Haims Advisors LLC increased its position in Johnson & Johnson by 6.4% in the first quarter. Cooper Haims Advisors LLC now owns 3,358 shares of the company’s stock worth $531,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JNJ shares. Royal Bank of Canada increased their target price on Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Sanford C. Bernstein increased their target price on Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Wells Fargo & Company increased their target price on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Finally, TD Cowen cut their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.93.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $160.88 on Monday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. 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 firm has a market capitalization of $387.19 billion, a P/E ratio of 10.03, a P/E/G ratio of 2.90 and a beta of 0.52. The stock has a 50 day moving average price of $163.41 and a 200 day moving average price of $155.10.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.46% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period last year, the company earned $2.66 EPS. Johnson & Johnson’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 30.92%.

Insider Buying and Selling at Johnson & Johnson

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 transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate 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.