Lee Financial Company increased position in Johnson & Johnson (NYSE:JNJ)

Lee Financial Company boosted its stake in Johnson & Johnson (NYSE: JNJ — Receive Rating) to 3.1% in the second quarter, the company said in its most recent disclosure with the SEC. The firm owned 2,554 shares of the company’s stock after purchasing an additional 77 shares during the quarter. Lee Financial Company’s holdings in Johnson & Johnson were worth $454,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock recently. Taylor & Morgan Wealth Management LLC boosted its stake in Johnson & Johnson by 1.6% during the second quarter. Taylor & Morgan Wealth Management LLC now owns 3,580 shares of the company’s stock valued at $635,000 after buying an additional 57 shares during the last quarter. Circle Wealth Management LLC raised its stake in Johnson & Johnson by 0.5% during the first quarter. Circle Wealth Management LLC now owns 11,326 shares of the company’s stock valued at $2,007,000 after buying an additional 59 shares during the last quarter. Red Wave Investments LLC raised its stake in Johnson & Johnson by 2.0% during the second quarter. Red Wave Investments LLC now owns 2,986 shares of the company’s stock valued at $530,000 after buying an additional 59 shares during the last quarter. Argus Investors Counsel Inc. raised its stake in Johnson & Johnson by 0.6% during the second quarter. After buying an additional 61 shares during the last quarter, Argus Investors Counsel Inc. holds 10,936 shares of the company’s stock, valued at $1,941,000. Finally, Alta Capital Management LLC raised its stake in Johnson & Johnson by 0.4% during the second quarter. Alta Capital Management LLC now owns 15,824 shares of the company’s stock valued at $2,808,000 after buying an additional 61 shares during the last quarter. 68.59% of the stock is currently held by hedge funds and other institutional investors.

johnson & johnson stock performance

Shares of JNJ opened on Monday at $176.20. The firm’s 50-day moving average price is $167.84 and 200-day moving average price is $171.29. The firm has a market capitalization of $460.67 billion, a PE ratio of 24.54, a P/E/G ratio of 3.49, and a beta of 0.57. The company has a quick ratio of 1.18, current ratio of 1.43 and debt-to-equity ratio of 0.37. Johnson & Johnson’s 52-week low is $155.72 and its 52-week high is $186.69.

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Johnson & Johnson (NYSE: JNJ – GET Rating) last announced its earnings results on Tuesday, October 18. The company reported earnings per share (EPS) of $2.55 for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The company’s revenue during the quarter was $23.79 billion, compared to analyst estimates of $23.44 billion. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. Johnson & Johnson’s revenue was up 1.9% over the same quarter last year. During the same quarter last year, the firm had posted EPS of $2.60. On average, sell-side analysts expect Johnson & Johnson to earn Rs 10.04 earnings per share for the current fiscal year.

Johnson & Johnson announced that its board has approved a share repurchase plan on Wednesday, September 14 that allows the company to repurchase up to $5.00 billion in shares. This buyback authorization allows the company to buy back up to 1.2% of its shares through open market purchases. A share buyback plan is usually a sign that a company’s management believes that its shares are undervalued.

Johnson & Johnson declares dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. A $1.13 dividend will be issued to shareholders of record on Tuesday, November 22nd. This represents a $4.52 dividend and a yield of 2.57% on an annualized basis. The ex-dividend date for this dividend is Monday, November 21. Johnson & Johnson’s payout ratio is 62.95%.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Katherine E. Wengel sold 16,410 shares of the company’s stock in a transaction on Wednesday, November 9. Shares were sold at an average price of $173.42 for a total value of $2,845,822.20. Following the completion of the sale, the Executive Vice President now directly owns 71,311 shares of Company stock, valued at approximately $12,366,753.62. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. In other Johnson & Johnson news, EVP Katherine E. Wengel sold 16,410 shares of the company’s stock in a transaction on Wednesday, November 9. Shares were sold at an average price of $173.42 for a total value of $2,845,822.20. Following the completion of the sale, the Executive Vice President now directly owns 71,311 shares of Company stock, valued at approximately $12,366,753.62. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available via this hyperlink. In addition, VP Peter Fasolo sold 22,864 shares of the company’s stock in a transaction on Wednesday, October 19. The shares were sold at an average price of $164.50 for a total transaction of $3,761,128.00. Following the sale, the vice president now directly owns 114,676 shares of the company’s stock, valued at $18,864,202. Disclosure of this sale can be found here. In the past three months, insiders sold 118,795 shares of company stock valued at $20,230,174. 0.35% of the stock is owned by insiders.

Analysts set new price targets

JNJ has been the subject of several recent research reports. Sanford C. Bernstein decreased his target price on shares of Johnson & Johnson from $194.00 to $190.00 in a research note on Wednesday, October 19. Barclays initiated coverage on shares of Johnson & Johnson in a research report on Monday, October 17. They set an “Equal Weight” rating and $175.00 price target on the company. Atlantic Securities cut their price target on shares of Johnson & Johnson from $165.00 to $160.00 and set a “neutral” rating on the company in a research report on Wednesday, October 19. StockNews.com initiated coverage on shares of Johnson & Johnson in a research report on Wednesday, October 12. They set a “strong-buy” rating for the company. Finally, Citigroup reduced its price target on shares of Johnson & Johnson from $201.00 to $198.00 in a research report on Wednesday, October 5. Seven equity research analysts have a hold rating on the stock, four have a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “medium buy” and a consensus price target of $181.33, according to Marketbeat data.

Johnson & Johnson Company Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells a variety of products in the healthcare sector around the world. The company’s Consumer Health segment offers baby care products under the Johnson’s and Aveeno Baby brands; oral care products under the Listerine brand; Skin health/beauty products under AVEENO, Clean & Clear, DR.

Further reading

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE: JNJ)

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