Leo Wealth LLC Increases Stock Position in Johnson & Johnson $JNJ

Key Points

• Leo Wealth LLC increased its stock position in Johnson & Johnson by 1.6% in Q2, holding 382,885 shares valued at approximately $58.5 million, making it the firm's third largest position.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, representing an annualized yield of 2.7% with a payout ratio of 55.61%.
• Analysts have given Johnson & Johnson a consensus rating of "Moderate Buy" with a price target of $192.94, as two analysts hold a "Strong Buy" rating on the stock.

Leo Wealth LLC increased its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,885 shares of the company's stock after purchasing an additional 6,032 shares during the period. Johnson & Johnson makes up approximately 4.5% of Leo Wealth LLC's holdings, making the stock its 3rd biggest position. Leo Wealth LLC's holdings in Johnson & Johnson were worth $58,486,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Highline Wealth Partners LLC lifted its stake in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company's stock valued at $42,000 after acquiring an additional 86 shares during the period. Stone House Investment Management LLC bought a new position in Johnson & Johnson during the 1st quarter valued at about $47,000. 1248 Management LLC bought a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Trading Down 0.2%

Johnson & Johnson stock opened at $190.66 on Friday. The firm has a 50 day moving average of $178.48 and a 200 day moving average of $163.76. The firm has a market capitalization of $459.16 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $192.10. 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 (NYSE:JNJ - Get Free Report) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $24.02 billion during the quarter. As a group, research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

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

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler reiterated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $167.00 to $206.00 in a research note on Tuesday, September 23rd. UBS Group set a $198.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 3rd. Wells Fargo & Company set a $212.00 price objective on shares of Johnson & Johnson and gave the stock an "overweight" rating in a research note on Friday, October 3rd. Finally, Bank of America increased their price objective on shares of Johnson & Johnson from $175.00 to $198.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $192.94.

Johnson & Johnson Company 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.

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.