8,014 Shares in Johnson & Johnson $JNJ Purchased by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC has acquired 8,014 shares of Johnson & Johnson, valued at approximately $1,224,000, as part of their new position disclosed in the second quarter.
• The company plans to pay a quarterly dividend of $1.30 per share on December 9th, contributing to a projected annualized dividend of $5.20 and a yield of 2.7%.
• Wall Street analysts have set various price targets for Johnson & Johnson, with a consensus target price of $199.59 and multiple analysts rating the stock as a "Moderate Buy" or higher.

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 8,014 shares of the company's stock, valued at approximately $1,224,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellis Investment Partners LLC raised its stake in shares of Johnson & Johnson by 0.7% during the 2nd quarter. Ellis Investment Partners LLC now owns 8,559 shares of the company's stock worth $1,307,000 after purchasing an additional 62 shares in the last quarter. Cypress Wealth Services LLC raised its stake in shares of Johnson & Johnson by 0.9% during the 2nd quarter. Cypress Wealth Services LLC now owns 6,634 shares of the company's stock worth $1,013,000 after purchasing an additional 62 shares in the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Johnson & Johnson by 11.2% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company's stock worth $97,000 after purchasing an additional 64 shares in the last quarter. Global Strategic Investment Solutions LLC raised its stake in shares of Johnson & Johnson by 3.5% in the 2nd quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company's stock valued at $294,000 after acquiring an additional 65 shares in the last quarter. Finally, JSF Financial LLC raised its stake in shares of Johnson & Johnson by 2.2% in the 2nd quarter. JSF Financial LLC now owns 2,993 shares of the company's stock valued at $457,000 after acquiring an additional 65 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent analyst reports. Morgan Stanley set a $190.00 price objective on Johnson & Johnson in a research note on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $209.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 10th. Wall Street Zen raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Bank of America raised their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Raymond James Financial raised their price objective on Johnson & Johnson from $174.00 to $209.00 and gave the company an "outperform" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of "Moderate Buy" and an average target price of $199.59.

Johnson & Johnson Stock Performance

JNJ opened at $193.27 on Friday. The firm has a market capitalization of $465.45 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 2.26 and a beta of 0.40. The stock's 50 day moving average price is $180.49 and its two-hundred day moving average price is $164.80. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The firm had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. On average, equities analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio (DPR) is presently 55.61%.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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