Correct Capital Wealth Management Raises Stock Position in Johnson & Johnson $JNJ

Correct Capital Wealth Management lifted its position in Johnson & Johnson (NYSE:JNJ) by 3.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,735 shares of the company’s stock after purchasing an additional 548 shares during the period. Correct Capital Wealth Management’s holdings in Johnson & Johnson were worth $2,251,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Country Trust Bank lifted its holdings in shares of Johnson & Johnson by 7.1% in the 2nd quarter. Country Trust Bank now owns 121,588 shares of the company’s stock worth $18,573,000 after buying an additional 8,053 shares during the period. Richmond Investment Services LLC bought a new stake in shares of Johnson & Johnson in the second quarter valued at about $708,000. J.W. Cole Advisors Inc. lifted its stake in Johnson & Johnson by 15.4% in the second quarter. J.W. Cole Advisors Inc. now owns 128,165 shares of the company’s stock worth $19,577,000 after acquiring an additional 17,143 shares during the period. North Star Asset Management Inc. grew its holdings in Johnson & Johnson by 4.2% during the 2nd quarter. North Star Asset Management Inc. now owns 27,616 shares of the company’s stock worth $4,218,000 after acquiring an additional 1,118 shares in the last quarter. Finally, Southeast Asset Advisors LLC increased its position in Johnson & Johnson by 7.4% during the 2nd quarter. Southeast Asset Advisors LLC now owns 41,987 shares of the company’s stock valued at $6,414,000 after purchasing an additional 2,883 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Up 0.3%

Johnson & Johnson stock opened at $206.66 on Wednesday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $207.72. The business has a fifty day moving average price of $189.43 and a 200-day moving average price of $172.50. 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 stock has a market capitalization of $497.91 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Equities research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

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. This represents a $5.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is currently 50.19%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s 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 transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This represents a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wells Fargo & Company set a $212.00 price objective on shares of Johnson & Johnson and gave the company an “overweight” rating in a report on Friday, October 3rd. Argus set a $210.00 target price on Johnson & Johnson in a research report on Wednesday, October 15th. Morgan Stanley set a $190.00 price target on Johnson & Johnson in a research report on Wednesday, October 15th. Bank of America upped their price objective on Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Finally, Johnson Rice set a $190.00 target price on Johnson & Johnson and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.05.

Johnson & Johnson Company Profile

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.