Bridges Investment Management Inc. Buys 3,298 Shares of Johnson & Johnson $JNJ

Key Points

• Bridges Investment Management Inc. increased its stake in Johnson & Johnson by 4.4% during the second quarter, purchasing an additional 3,298 shares, bringing its total to 77,996 shares valued at approximately $11.9 million.
• Insider activity was noted as EVP Jennifer L. Taubert sold 56,471 shares at an average price of $177.81, resulting in a significant reduction of her holdings by 24.08%.
• Johnson & Johnson has announced a quarterly dividend of $1.30 per share payable on December 9th, with a yield of 2.7% and a payout ratio of 55.61%.

Bridges Investment Management Inc. grew its stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 4.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 77,996 shares of the company's stock after buying an additional 3,298 shares during the period. Bridges Investment Management Inc.'s holdings in Johnson & Johnson were worth $11,914,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GFG Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth about $35,000. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson in the first quarter worth $48,000. von Borstel & Associates Inc. bought a new stake in Johnson & Johnson during the 1st quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the first quarter valued at approximately $52,000. 69.55% of the stock is owned by institutional investors.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Stock Up 0.6%

NYSE:JNJ opened at $193.27 on Friday. The stock has a 50-day simple moving average of $180.49 and a 200 day simple moving average of $164.80. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.40. The company has a market cap of $465.45 billion, a PE ratio of 18.65, a PEG ratio of 2.26 and a beta of 0.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01.

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

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.7%. Johnson & Johnson's payout ratio is 55.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup lifted their price objective on Johnson & Johnson from $213.00 to $215.00 and gave the stock a "buy" rating in a research report on Wednesday. Cowen restated a "buy" rating on shares of Johnson & Johnson in a research report on Tuesday. Wall Street Zen raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. UBS Group lifted their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Stifel Nicolaus boosted their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the company a "hold" rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.59.

About Johnson & Johnson

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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