Envestnet Portfolio Solutions Inc. Boosts Stock Position in Johnson & Johnson (NYSE:JNJ)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 129,810 shares of the company’s stock after acquiring an additional 4,116 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Johnson & Johnson were worth $18,973,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson during the first quarter valued at approximately $31,000. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at about $40,000. WFA Asset Management Corp lifted its stake in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Johnson & Johnson in the fourth quarter valued at approximately $44,000. Finally, Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.2 %

Shares of JNJ traded up $0.32 during mid-day trading on Thursday, hitting $158.80. 1,645,389 shares of the company’s stock were exchanged, compared to its average volume of 7,320,242. The stock’s 50-day moving average is $151.88 and its 200-day moving average is $153.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.39. The company has a market cap of $382.18 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 2.63 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 EPS. On average, sell-side analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, August 5th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson 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.