Concentric Wealth Management LLC Raises Position in Johnson & Johnson (NYSE:JNJ)

Concentric Wealth Management LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,575 shares of the company’s stock after purchasing an additional 820 shares during the period. Johnson & Johnson makes up approximately 2.0% of Concentric Wealth Management LLC’s portfolio, making the stock its 14th largest position. Concentric Wealth Management LLC’s holdings in Johnson & Johnson were worth $8,196,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in JNJ. Prosperity Financial Group Inc. lifted its stake in shares of Johnson & Johnson by 4.6% in the third quarter. Prosperity Financial Group Inc. now owns 4,418 shares of the company’s stock valued at $716,000 after purchasing an additional 195 shares during the period. Douglass Winthrop Advisors LLC lifted its position in shares of Johnson & Johnson by 4.5% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 107,052 shares of the company’s stock valued at $17,349,000 after acquiring an additional 4,609 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Johnson & Johnson by 7.9% in the 3rd quarter. Fisher Asset Management LLC now owns 7,560,199 shares of the company’s stock worth $1,225,206,000 after acquiring an additional 550,760 shares during the period. Daiwa Securities Group Inc. increased its stake in Johnson & Johnson by 8.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 384,637 shares of the company’s stock valued at $62,335,000 after purchasing an additional 28,628 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in Johnson & Johnson by 15.8% during the third quarter. Summit Trail Advisors LLC now owns 53,162 shares of the company’s stock worth $8,615,000 after purchasing an additional 7,242 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Guggenheim raised their price target on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Morgan Stanley raised their price target on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Stock Down 0.2 %

Shares of JNJ opened at $155.17 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market cap of $373.59 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company’s fifty day moving average is $160.21 and its two-hundred day moving average is $156.32. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business posted $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.20%. Johnson & Johnson’s payout ratio is currently 71.78%.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’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 transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their position. The sale 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.

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.