Balboa Wealth Partners Increases Stock Position in Johnson & Johnson $JNJ

Balboa Wealth Partners grew its position in Johnson & Johnson (NYSE:JNJ) by 11.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,344 shares of the company’s stock after purchasing an additional 882 shares during the period. Balboa Wealth Partners’ holdings in Johnson & Johnson were worth $1,275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GFG Capital LLC purchased a new stake in Johnson & Johnson during the second quarter worth about $35,000. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson during the first quarter worth about $47,000. 1248 Management LLC purchased a new stake in Johnson & Johnson during the first quarter worth about $48,000. von Borstel & Associates Inc. purchased a new stake in Johnson & Johnson during the first quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Johnson & Johnson during the first quarter worth about $52,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on JNJ. JPMorgan Chase & Co. raised their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Tuesday, September 16th. The Goldman Sachs Group raised their price objective on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Sanford C. Bernstein increased their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research report on Monday, October 6th. Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price for the company in a research report on Monday. Finally, Raymond James Financial increased their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus target price of $200.06.

Johnson & Johnson Price Performance

JNJ stock opened at $193.78 on Tuesday. The firm has a 50 day moving average of $180.89 and a 200-day moving average of $165.18. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.48. The firm has a market capitalization of $466.68 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 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 during the quarter. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a yield of 2.7%. Johnson & Johnson’s payout ratio is presently 50.19%.

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.