Cyndeo Wealth Partners LLC Has $9.71 Million Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Cyndeo Wealth Partners LLC increased its stake in Johnson & Johnson by 2.8% during Q2, owning 63,594 shares valued at approximately $9.71 million.
• Institutional investors and hedge funds now own 69.55% of Johnson & Johnson's stock, indicating strong institutional interest.
• Johnson & Johnson announced a quarterly dividend of $1.30 per share, resulting in an annualized dividend yield of 2.7% and a payout ratio of 55.61%.

Cyndeo Wealth Partners LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,594 shares of the company's stock after buying an additional 1,753 shares during the period. Cyndeo Wealth Partners LLC's holdings in Johnson & Johnson were worth $9,714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Apexium Financial LP lifted its position in shares of Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company's stock worth $3,978,000 after purchasing an additional 2,310 shares during the period. Avanza Fonder AB lifted its position in shares of Johnson & Johnson by 2.9% in the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock worth $35,842,000 after purchasing an additional 6,566 shares during the period. Joel Isaacson & Co. LLC lifted its position in shares of Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock worth $12,294,000 after purchasing an additional 2,526 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Johnson & Johnson by 7.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock worth $12,164,000 after purchasing an additional 4,816 shares during the period. Finally, Absher Wealth Management LLC lifted its position in shares of Johnson & Johnson by 1.2% in the 1st quarter. Absher Wealth Management LLC now owns 215,584 shares of the company's stock worth $35,752,000 after purchasing an additional 2,469 shares during the period. Institutional investors and hedge funds own 69.55% of the company's stock.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction on Thursday, September 4th. The shares were 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 owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $190.66 on Friday. The firm has a market capitalization of $459.16 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The firm has a fifty day simple moving average of $178.48 and a two-hundred day simple moving average of $163.77. 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 $192.10.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The business had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were paid a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson's dividend payout ratio is presently 55.61%.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Tuesday, September 16th. Erste Group Bank upgraded shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. The Goldman Sachs Group boosted their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a "buy" rating in a research report on Thursday. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $209.00 target price on shares of Johnson & Johnson in a research report on Friday. Two investment 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $192.94.

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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