Mainstay Capital Management LLC ADV Raises Position in Johnson & Johnson $JNJ

Mainstay Capital Management LLC ADV boosted its stake in Johnson & Johnson (NYSE:JNJ) by 99.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,892 shares of the company’s stock after buying an additional 2,439 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Johnson & Johnson were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boomfish Wealth Group LLC lifted its stake in Johnson & Johnson by 5.1% in the 2nd quarter. Boomfish Wealth Group LLC now owns 10,719 shares of the company’s stock valued at $1,637,000 after buying an additional 520 shares in the last quarter. GFG Capital LLC purchased a new position in Johnson & Johnson in the 2nd quarter worth approximately $35,000. Edge Financial Advisors LLC purchased a new position in Johnson & Johnson in the 2nd quarter worth approximately $244,000. Leo Wealth LLC lifted its stake in Johnson & Johnson by 1.6% in the 2nd quarter. Leo Wealth LLC now owns 382,885 shares of the company’s stock worth $58,486,000 after purchasing an additional 6,032 shares in the last quarter. Finally, MSH Capital Advisors LLC lifted its stake in Johnson & Johnson by 2.4% in the 2nd quarter. MSH Capital Advisors LLC now owns 15,343 shares of the company’s stock worth $2,344,000 after purchasing an additional 354 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on JNJ shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $209.00 target price on shares of Johnson & Johnson in a research note on Friday. Bank of America lifted their price target on shares of Johnson & Johnson from $175.00 to $198.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Guggenheim raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.94.

Johnson & Johnson Stock Down 0.2%

Shares of NYSE JNJ opened at $190.66 on Friday. The firm has a market cap of $459.16 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.40 and a beta of 0.40. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 52-week low of $140.68 and a 52-week high of $192.10. The business’s 50 day moving average is $178.48 and its two-hundred day moving average is $163.76.

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

Johnson & Johnson Dividend Announcement

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

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by company 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.