Meritage Portfolio Management Has $12.36 Million Stock Position in Johnson & Johnson $JNJ

Meritage Portfolio Management lowered its holdings in shares of Johnson & Johnson (NYSE:JNJ - Free Report) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,925 shares of the company's stock after selling 2,960 shares during the period. Johnson & Johnson makes up about 0.8% of Meritage Portfolio Management's holdings, making the stock its 27th biggest position. Meritage Portfolio Management's holdings in Johnson & Johnson were worth $12,361,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in JNJ. GFG Capital LLC acquired a new stake in Johnson & Johnson in the second quarter valued at approximately $35,000. Highline Wealth Partners LLC grew its stake in Johnson & Johnson by 51.8% in the first 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 acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $47,000. 1248 Management LLC acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $48,000. Finally, von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $49,000. Institutional investors and hedge funds own 69.55% of the company's stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of research reports. UBS Group raised their price objective on Johnson & Johnson from $190.00 to $214.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays raised their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Tuesday, September 16th. The Goldman Sachs Group raised their target price on Johnson & Johnson from $186.00 to $212.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Finally, Weiss Ratings upgraded Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus target price of $193.88.

Johnson & Johnson Stock Down 0.0%

JNJ stock opened at $190.88 on Wednesday. The stock's 50 day moving average is $179.28 and its 200-day moving average is $164.16. The firm has a market capitalization of $459.70 billion, a PE ratio of 20.41, a P/E/G ratio of 2.40 and a beta of 0.40. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $194.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last issued 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 for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%. Sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be 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 is Tuesday, November 25th. Johnson & Johnson's dividend payout ratio (DPR) is 55.61%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

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.

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