Johnson & Johnson $JNJ Shares Purchased by Legacy Financial Advisors Inc.

Key Points

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Legacy Financial Advisors Inc. lifted its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,294 shares of the company's stock after acquiring an additional 2,350 shares during the period. Legacy Financial Advisors Inc.'s holdings in Johnson & Johnson were worth $3,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in JNJ. Nuveen LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth about $1,369,188,000. GAMMA Investing LLC grew its position in Johnson & Johnson by 24,450.4% during the 1st quarter. GAMMA Investing LLC now owns 7,215,367 shares of the company's stock worth $1,196,596,000 after purchasing an additional 7,185,977 shares during the period. Bank of New York Mellon Corp grew its position in shares of Johnson & Johnson by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company's stock valued at $3,844,580,000 after acquiring an additional 4,842,582 shares during the period. Janus Henderson Group PLC grew its position in shares of Johnson & Johnson by 134.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,948,508 shares of the company's stock valued at $1,149,536,000 after acquiring an additional 4,559,147 shares during the period. Finally, Northern Trust Corp grew its position in shares of Johnson & Johnson by 12.3% during the 4th quarter. Northern Trust Corp now owns 30,813,175 shares of the company's stock valued at $4,456,201,000 after acquiring an additional 3,363,235 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JNJ has been the topic of a number of analyst reports. Bank of America raised their target price on Johnson & Johnson from $161.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Benchmark upgraded Johnson & Johnson to a "strong-buy" rating in a research report on Thursday, April 24th. Morgan Stanley raised their target price on Johnson & Johnson from $171.00 to $176.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Finally, Erste Group Bank upgraded Johnson & Johnson from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.50.

Johnson & Johnson Trading Down 0.2%

Shares of Johnson & Johnson stock opened at $176.26 on Tuesday. The stock has a market cap of $424.49 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.25 and a beta of 0.41. The stock's 50 day simple moving average is $161.70 and its 200-day simple moving average is $158.60. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $177.57. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued its earnings results on Wednesday, July 16th. The company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.09. The business had revenue of $23.74 billion for the quarter, compared to analysts' expectations of $22.85 billion. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 EPS. Analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 26th. Johnson & Johnson's payout ratio is presently 55.61%.

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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