Ellis Investment Partners LLC Has $1.31 Million Holdings in Johnson & Johnson $JNJ

Ellis Investment Partners LLC lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,559 shares of the company’s stock after purchasing an additional 62 shares during the period. Ellis Investment Partners LLC’s holdings in Johnson & Johnson were worth $1,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson in the 2nd quarter valued at $35,000. Highline Wealth Partners LLC lifted its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after acquiring an additional 86 shares during the last quarter. Stone House Investment Management LLC acquired a new position in Johnson & Johnson during the 1st quarter worth $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson during the 1st quarter worth $48,000. Finally, von Borstel & Associates Inc. acquired a new position in Johnson & Johnson during the 1st quarter worth $49,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on JNJ shares. Wall Street Zen raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. The Goldman Sachs Group boosted their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday. Barclays boosted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Finally, HSBC boosted their target price on shares of Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.88.

Insiders Place Their Bets

In related 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 value of $10,041,108.51. Following the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $190.88 on Wednesday. The firm’s 50-day moving average is $179.28 and its 200-day moving average is $164.16. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $194.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The company has a market cap of $459.70 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. The company had revenue of $24.02 billion for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s payout ratio is presently 55.61%.

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.