Edge Financial Advisors LLC Purchases New Shares in Johnson & Johnson $JNJ

Key Points

• Edge Financial Advisors LLC has acquired a new stake in Johnson & Johnson, purchasing 1,570 shares valued at approximately $244,000 during the 2nd quarter.
• Several institutional investors have significantly increased their holdings in Johnson & Johnson, with combined investments exceeding $1.3 billion from firms like Nuveen LLC and Bank of New York Mellon Corp.
• Johnson & Johnson has recently reported a quarterly earnings per share of $2.26 and declared a quarterly dividend of $1.30, resulting in an annualized dividend of $5.20.

Edge Financial Advisors LLC purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,570 shares of the company's stock, valued at approximately $244,000.

Several other institutional investors have also modified their holdings of JNJ. Nuveen LLC purchased a new position in shares of Johnson & Johnson in the first quarter worth about $1,369,188,000. Bank of New York Mellon Corp lifted its stake in shares of Johnson & Johnson by 26.4% in the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock worth $3,844,580,000 after buying an additional 4,842,582 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Johnson & Johnson by 1,382.0% in the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company's stock worth $502,509,000 after buying an additional 2,825,626 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company's stock worth $635,327,000 after buying an additional 2,557,388 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new position in shares of Johnson & Johnson in the second quarter worth about $401,420,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a research note on Monday, October 6th. Wall Street Zen raised shares of Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Barclays boosted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. 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 report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Johnson & Johnson from $176.00 to $178.00 and gave the company an "equal weight" rating in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $192.94.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company's stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $190.66 on Friday. The company's 50 day simple moving average is $178.48 and its 200-day simple moving average is $163.76. The company has a market capitalization of $459.16 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $192.10. 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 (EPS) for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

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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