Morton Brown Family Wealth LLC Grows Position in Johnson & Johnson $JNJ

Key Points

• Morton Brown Family Wealth LLC significantly increased its position in Johnson & Johnson by 2,715.3% in the second quarter, bringing their total holdings to $310,000.
• Johnson & Johnson recently announced a quarterly dividend of $1.30 per share, representing a 2.7% dividend yield for shareholders.
• The company's stock is currently valued at around $190.66, with a recent price target increase by several brokerages, suggesting a potential upside in its valuation.

Morton Brown Family Wealth LLC grew its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 2,715.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,027 shares of the company's stock after purchasing an additional 1,955 shares during the period. Morton Brown Family Wealth LLC's holdings in Johnson & Johnson were worth $310,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Apexium Financial LP lifted its position in shares of Johnson & Johnson by 10.7% during the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company's stock valued at $3,978,000 after buying an additional 2,310 shares in the last quarter. Avanza Fonder AB lifted its position in shares of Johnson & Johnson by 2.9% during the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company's stock valued at $35,842,000 after buying an additional 6,566 shares in the last quarter. Joel Isaacson & Co. LLC lifted its position in shares of Johnson & Johnson by 3.5% during the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company's stock valued at $12,294,000 after buying an additional 2,526 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Johnson & Johnson by 7.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company's stock valued at $12,164,000 after buying an additional 4,816 shares in the last quarter. Finally, Absher Wealth Management LLC lifted its position in shares of Johnson & Johnson by 1.2% during the 1st quarter. Absher Wealth Management LLC now owns 215,584 shares of the company's stock valued at $35,752,000 after buying an additional 2,469 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Johnson & Johnson Stock Down 0.2%

Shares of JNJ opened at $190.66 on Friday. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $192.10. The company has a market capitalization of $459.16 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40. The stock has a fifty day simple moving average of $178.48 and a two-hundred day simple moving average of $163.77. 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 earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a return on equity of 32.49% and a net margin of 25.00%.The business had revenue of $24.02 billion during the quarter. As a group, equities analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on JNJ. Bank of America increased their target price on Johnson & Johnson from $175.00 to $198.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Erste Group Bank raised Johnson & Johnson from a "hold" rating to a "buy" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein increased their price objective on Johnson & Johnson from $172.00 to $193.00 and gave the company a "market perform" rating in a research note on Monday, October 6th. Weiss Ratings raised Johnson & Johnson from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday. Finally, HSBC increased their price objective on Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.94.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.16% of the company's stock.

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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