Zullo Investment Group Inc. Has $2.11 Million Stock Holdings in Johnson & Johnson $JNJ

Key Points

• Zullo Investment Group Inc. reduced its stake in Johnson & Johnson by 19.9%, holding $2.11 million worth of stock after selling 3,431 shares during the second quarter.
• In recent research reports, analysts have raised price targets for Johnson & Johnson, with Barclays increasing their estimate to $176.00 and HSBC to $210.00, reflecting positive market sentiment.
• Johnson & Johnson's stock experienced a minor decline of 0.2%, with a current market capitalization of $459.16 billion and a dividend yield of 2.7% following a recent payout of $1.30 per share.

Zullo Investment Group Inc. cut its stake in Johnson & Johnson (NYSE:JNJ - Free Report) by 19.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,831 shares of the company's stock after selling 3,431 shares during the quarter. Johnson & Johnson makes up 0.9% of Zullo Investment Group Inc.'s portfolio, making the stock its 27th biggest holding. Zullo Investment Group Inc.'s holdings in Johnson & Johnson were worth $2,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. First Fiduciary Investment Counsel Inc. increased its stake in shares of Johnson & Johnson by 1.1% in the second quarter. First Fiduciary Investment Counsel Inc. now owns 93,097 shares of the company's stock worth $14,221,000 after acquiring an additional 998 shares during the last quarter. Strengthening Families & Communities LLC increased its stake in shares of Johnson & Johnson by 10.7% in the second quarter. Strengthening Families & Communities LLC now owns 2,031 shares of the company's stock worth $337,000 after acquiring an additional 196 shares during the last quarter. Blue Zone Wealth Advisors LLC increased its stake in shares of Johnson & Johnson by 4.8% in the second quarter. Blue Zone Wealth Advisors LLC now owns 1,768 shares of the company's stock worth $270,000 after acquiring an additional 81 shares during the last quarter. JB Capital LLC increased its stake in shares of Johnson & Johnson by 4.2% in the second quarter. JB Capital LLC now owns 9,011 shares of the company's stock worth $1,377,000 after acquiring an additional 360 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Johnson & Johnson by 1.6% in the second quarter. Blue Trust Inc. now owns 66,941 shares of the company's stock worth $10,225,000 after purchasing an additional 1,066 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the subject of a number of recent research reports. Barclays upped their price objective on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. HSBC upped their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Sanford C. Bernstein upped their price objective on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a "market perform" rating in a report on Monday, October 6th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $176.00 to $178.00 and gave the stock an "equal weight" rating in a report on Friday. Finally, Guggenheim upgraded shares of Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $167.00 to $206.00 in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.94.

Johnson & Johnson Stock Down 0.2%

JNJ stock opened at $190.66 on Monday. 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 52-week low of $140.68 and a 52-week high of $192.10. The company has a 50-day moving average of $178.48 and a two-hundred day moving average of $163.78. The stock has a market capitalization of $459.16 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last released its quarterly 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, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were given a dividend of $1.30 per share. 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 is currently 55.61%.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 178,013 shares of the company's stock, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company's stock.

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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