Douglas Lane & Associates LLC Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

by · The Markets Daily

Douglas Lane & Associates LLC lifted its position in Johnson & Johnson (NYSE:JNJ – Free Report) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,860 shares of the company’s stock after buying an additional 15,508 shares during the quarter. Johnson & Johnson makes up approximately 1.3% of Douglas Lane & Associates LLC’s portfolio, making the stock its 18th biggest holding. Douglas Lane & Associates LLC’s holdings in Johnson & Johnson were worth $96,079,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Meridian Financial Partners LLC purchased a new stake in Johnson & Johnson in the second quarter valued at approximately $1,626,000. Summit Financial Wealth Advisors LLC grew its position in Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after acquiring an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC grew its position in Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after acquiring an additional 325 shares during the last quarter. Capital Asset Advisory Services LLC grew its position in Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after acquiring an additional 2,151 shares during the last quarter. Finally, NTV Asset Management LLC grew its position in Johnson & Johnson by 1.6% during the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after acquiring an additional 565 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on JNJ. Sanford C. Bernstein increased their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. TD Cowen decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $174.31.

Check Out Our Latest Stock Analysis on Johnson & Johnson

Insider Activity

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.6 %

Johnson & Johnson stock traded up $0.95 during mid-day trading on Friday, reaching $161.46. The stock had a trading volume of 5,253,459 shares, compared to its average volume of 7,039,524. The company has a market capitalization of $388.58 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.65 and a beta of 0.52. The company has a 50-day moving average price of $162.59 and a two-hundred day moving average price of $154.48. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

Johnson & Johnson (NYSE:JNJ – Get Free Report) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the firm earned $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% on a year-over-year basis. On average, analysts expect that Johnson & Johnson will post 10 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

About Johnson & Johnson

(Free Report)

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

Featured Stories