Lorne Steinberg Wealth Management Inc. Has $5.50 Million Stock Position in Johnson & Johnson $JNJ

Key Points

• Lorne Steinberg Wealth Management Inc. increased its holdings in Johnson & Johnson by 13.1%, owning a total of 36,006 shares valued at $5.5 million as per their latest SEC filing.
• Analysts are optimistic about Johnson & Johnson, with Barclays and HSBC lifting their target prices to $176 and $215, respectively, and a consensus rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $1.30, which translates to a 2.7% yield for shareholders, with a payout ratio of 50.19%.

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,006 shares of the company's stock after purchasing an additional 4,170 shares during the quarter. Lorne Steinberg Wealth Management Inc.'s holdings in Johnson & Johnson were worth $5,500,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GFG Capital LLC acquired a new position in shares of Johnson & Johnson during the 2nd quarter worth $35,000. Stone House Investment Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter worth $47,000. 1248 Management LLC acquired a new position in shares of Johnson & Johnson during the 1st quarter worth $48,000. von Borstel & Associates Inc. acquired a new position in shares of Johnson & Johnson during the 1st quarter worth $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson during the 1st quarter worth $52,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on JNJ. Piper Sandler restated an "overweight" rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Weiss Ratings upgraded shares of Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, October 8th. Barclays raised their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the company an "overweight" rating in a research note on Friday, October 3rd. Finally, HSBC raised their target price on shares of Johnson & Johnson from $210.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson has a consensus rating of "Moderate Buy" and an average price target of $200.06.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the 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 directly owned 178,013 shares of the company's stock, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $191.93 on Wednesday. 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 has a fifty-two week low of $140.68 and a fifty-two week high of $194.48. The firm has a fifty day moving average price of $181.27 and a two-hundred day moving average price of $165.37. The company has a market cap of $462.23 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson's dividend payout ratio is 50.19%.

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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