Bogart Wealth LLC Has $8.19 Million Position in Johnson & Johnson $JNJ

Key Points

• Bogart Wealth LLC significantly increased its investment in Johnson & Johnson by 817.7%, owning 53,628 shares valued at $8.19 million as of the end of the second quarter.
• Johnson & Johnson's stock has received multiple upgrades from analysts, with 14 'Buy' ratings and a current price target averaging around $200.06.
• The company announced a quarterly dividend of $1.30 per share, translating to an annual yield of 2.7%, set to be distributed on December 9th.

Bogart Wealth LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 817.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,628 shares of the company's stock after purchasing an additional 47,784 shares during the quarter. Bogart Wealth LLC's holdings in Johnson & Johnson were worth $8,192,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JNJ. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson during the second quarter worth about $35,000. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson during the first quarter worth about $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson during the first quarter worth about $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the first quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson during the first quarter worth about $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JNJ shares. Cowen reiterated a "buy" rating on shares of Johnson & Johnson in a report on Tuesday, October 14th. Wall Street Zen upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Bank of America increased their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Wells Fargo & Company set a $212.00 price objective on Johnson & Johnson and gave the stock an "overweight" rating in a report on Friday, October 3rd. Finally, HSBC increased their price objective on Johnson & Johnson from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.06.

Insiders Place Their Bets

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.16% of the company's stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $191.93 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.76 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 $194.48. The stock has a 50 day moving average of $181.27 and a 200-day moving average of $165.37. The company has a market capitalization of $462.23 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.28 and a beta of 0.40.

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

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be paid 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 is Tuesday, November 25th. Johnson & Johnson's payout ratio is currently 50.19%.

Johnson & Johnson 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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