Cypress Asset Management Inc. TX raised its stake in Johnson & Johnson (NYSE:JNJ) by 4.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 41,441 shares of the company’s stock after buying an additional 1,939 shares during the period. Johnson & Johnson makes up 1.9% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 11th biggest position. Cypress Asset Management Inc. TX’s holdings in Johnson & Johnson were worth $5,828,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new position in Johnson & Johnson in the 1st quarter valued at approximately $35,000. Lake Point Wealth Management increased its position in Johnson & Johnson by 144.4% in the 1st quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock valued at $38,000 after acquiring an additional 169 shares during the period. SeaBridge Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 160.0% during the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock valued at $46,000 after acquiring an additional 200 shares during the last quarter. Lion Street Advisors LLC acquired a new position in shares of Johnson & Johnson during the first quarter worth $45,000. Finally, Joseph P. Lucia & Associates LLC grew its stake in shares of Johnson & Johnson by 50.8% in the first quarter. Joseph P. Lucia & Associates LLC now owns 374 shares of the company’s stock worth $49,000 after purchasing an additional 126 shares during the last quarter. 68.44% of the stock is currently owned by hedge funds and other institutional investors.
JNJ opened at $145.76 on Friday. The company has a fifty day moving average price of $144.04 and a two-hundred day moving average price of $144.14. Johnson & Johnson has a 1-year low of $109.16 and a 1-year high of $157.00. The company has a market cap of $383.76 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 3.23 and a beta of 0.69. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $4.04 annualized dividend and a dividend yield of 2.77%. Johnson & Johnson’s dividend payout ratio is 46.54%.
In related news, EVP Ashley Mcevoy sold 29,000 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total value of $4,276,630.00. Following the transaction, the executive vice president now directly owns 21,682 shares in the company, valued at approximately $3,197,444.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.27% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on JNJ shares. SVB Leerink reiterated an “outperform” rating on shares of Johnson & Johnson in a research report on Wednesday, July 15th. Stifel Nicolaus upped their target price on Johnson & Johnson from $140.00 to $155.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Cantor Fitzgerald reissued a “buy” rating and set a $168.00 target price on shares of Johnson & Johnson in a research report on Tuesday, April 28th. Barclays boosted their price target on shares of Johnson & Johnson from $173.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 price objective for the company. in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. Johnson & Johnson has an average rating of “Buy” and an average price target of $163.38.
Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.
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