Range Financial Group LLC Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Range Financial Group LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,148 shares of the company’s stock after buying an additional 361 shares during the quarter. Johnson & Johnson accounts for about 0.9% of Range Financial Group LLC’s portfolio, making the stock its 28th largest position. Range Financial Group LLC’s holdings in Johnson & Johnson were worth $1,776,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in Johnson & Johnson by 1,194.9% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 237,273 shares of the company’s stock valued at $37,190,000 after purchasing an additional 218,949 shares during the last quarter. Gilbert & Cook Inc. grew its stake in Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after purchasing an additional 288 shares during the last quarter. 9258 Wealth Management LLC grew its stake in Johnson & Johnson by 2.1% during the 4th quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after purchasing an additional 443 shares during the last quarter. W Advisors LLC grew its stake in Johnson & Johnson by 3.2% during the 4th quarter. W Advisors LLC now owns 8,943 shares of the company’s stock valued at $1,402,000 after purchasing an additional 279 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in Johnson & Johnson during the 4th quarter valued at about $8,915,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $164.99 on Friday. The business has a 50 day simple moving average of $157.21 and a two-hundred day simple moving average of $153.78. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The stock has a market capitalization of $397.08 billion, a P/E ratio of 10.29, a PEG ratio of 2.73 and a beta of 0.52. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the prior year, the firm earned $2.80 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts predict that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.01%. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of recent research reports. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Tuesday, July 30th. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Morgan Stanley upped their target price on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, TD Cowen lowered their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.