JGP Wealth Management LLC Has $6.44 Million Position in Johnson & Johnson $JNJ

JGP Wealth Management LLC lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,165 shares of the company’s stock after purchasing an additional 719 shares during the period. JGP Wealth Management LLC’s holdings in Johnson & Johnson were worth $6,441,000 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. Stone House Investment Management LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at $48,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at $52,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JNJ shares. HSBC lifted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research note on Tuesday, September 30th. Stifel Nicolaus lifted their target price on shares of Johnson & Johnson from $165.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday. Barclays lifted their target price on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Bank of America lifted their target price on shares of Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.59.

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 $191.79 on Friday. The firm’s 50-day moving average is $180.09 and its 200-day moving average is $164.52. 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 $461.90 billion, a price-to-earnings ratio of 18.51, 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. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The company had revenue of $24.02 billion for the quarter. 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.