Sound View Wealth Advisors Group LLC Grows Stake in Johnson & Johnson $JNJ

Sound View Wealth Advisors Group LLC increased its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,743 shares of the company’s stock after purchasing an additional 624 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Johnson & Johnson were worth $10,806,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in JNJ. GFG Capital LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at $35,000. Stone House Investment Management LLC purchased a new stake in Johnson & Johnson in the first quarter valued at $47,000. 1248 Management LLC acquired a new position in Johnson & Johnson in the first quarter valued at $48,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Johnson & Johnson during the first quarter worth about $52,000. Finally, Pandora Wealth Inc. acquired a new stake in shares of Johnson & Johnson during the first quarter worth about $65,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $186.50 on Friday. The stock has a fifty day moving average price of $184.25 and a 200 day moving average price of $168.70. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The company has a market cap of $449.34 billion, a PE ratio of 18.00, a P/E/G ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ) last announced 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 32.73%. The company had revenue of $24.02 billion during the quarter. Sell-side analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio is currently 50.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on JNJ shares. Stifel Nicolaus upped their target price on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. JPMorgan Chase & Co. increased their price objective on Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Tuesday, September 16th. Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their target price for the company from $167.00 to $206.00 in a report on Tuesday, September 23rd. Piper Sandler reiterated an “overweight” rating on shares of Johnson & Johnson in a research note on Thursday, July 17th. Finally, Daiwa America raised shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.05.

Insider Buying and Selling

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 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 of the company’s stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by 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.