Sovereign Financial Group Inc. Purchases 117 Shares of Johnson & Johnson $JNJ

Sovereign Financial Group Inc. boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% during the second quarter, Holdings Channel.com reports. The fund owned 4,045 shares of the company’s stock after acquiring an additional 117 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Johnson & Johnson were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Johnson & Johnson in the first quarter valued at $1,369,188,000. Bank of New York Mellon Corp boosted its stake in shares of Johnson & Johnson by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 23,182,464 shares of the company’s stock valued at $3,844,580,000 after purchasing an additional 4,842,582 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Johnson & Johnson by 1,382.0% during the first quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock valued at $502,509,000 after purchasing an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Johnson & Johnson by 159.6% during the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock valued at $635,327,000 after purchasing an additional 2,557,388 shares during the period. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in shares of Johnson & Johnson during the second quarter valued at $401,420,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $190.88 on Tuesday. The company has a market capitalization of $459.71 billion, a PE ratio of 20.42, a P/E/G ratio of 2.40 and a beta of 0.40. 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 50-day simple moving average of $178.88 and a two-hundred day simple moving average of $163.97. Johnson & Johnson has a one year low of $140.68 and a one year high of $192.10.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $24.02 billion during the quarter. Research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th were given a $1.30 dividend. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s dividend payout ratio is currently 55.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JNJ shares. UBS Group set a $198.00 target price on shares of Johnson & Johnson in a research note on Friday, October 3rd. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and boosted their target price for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. The Goldman Sachs Group boosted their target price on shares of Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a report on Thursday, July 17th. Finally, HSBC lifted their price objective on Johnson & Johnson from $188.00 to $210.00 in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.94.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was 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 in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

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.