Code Waechter LLC Buys New Position in Johnson & Johnson (NYSE:JNJ)

Code Waechter LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,506 shares of the company’s stock, valued at approximately $730,000.

A number of other hedge funds have also modified their holdings of the business. Innealta Capital LLC purchased a new position in shares of Johnson & Johnson during the second quarter worth about $27,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD purchased a new position in Johnson & Johnson in the 2nd quarter valued at approximately $46,000. Grayhawk Investment Strategies Inc. raised its holdings in Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the last quarter. Finally, Fairway Wealth LLC grew its holdings in Johnson & Johnson by 217.1% in the second quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock valued at $49,000 after purchasing an additional 228 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.6 %

Johnson & Johnson stock traded up $0.95 during midday trading on Friday, hitting $161.46. 5,253,459 shares of the stock were exchanged, compared to its average volume of 7,039,524. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The company has a 50 day moving average price of $162.59 and a two-hundred day moving average price of $154.49. The firm has a market cap of $388.58 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.65 and a beta of 0.52. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. The company had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 EPS. On average, sell-side analysts predict that Johnson & Johnson will post 10 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.07%. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Upgrades and Downgrades

JNJ has been the topic of several recent research reports. TD Securities reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada boosted their target price on shares of Johnson & Johnson from $175.00 to $178.00 and gave the company an “outperform” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.43.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is owned by insiders.

About Johnson & Johnson

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.