Obermeyer Wealth Partners Has $2.38 Million Stake in Johnson & Johnson $JNJ

Obermeyer Wealth Partners lowered its holdings in Johnson & Johnson (NYSE:JNJ) by 18.7% in the third quarter, HoldingsChannel.com reports. The firm owned 12,847 shares of the company’s stock after selling 2,961 shares during the quarter. Obermeyer Wealth Partners’ holdings in Johnson & Johnson were worth $2,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Clayton Financial Group LLC acquired a new position in Johnson & Johnson in the 3rd quarter valued at $28,000. Evolution Wealth Management Inc. bought a new stake in Johnson & Johnson during the second quarter worth about $27,000. Semmax Financial Advisors Inc. grew its stake in Johnson & Johnson by 55.0% during the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after buying an additional 72 shares in the last quarter. GFG Capital LLC bought a new position in Johnson & Johnson in the 2nd quarter valued at about $35,000. Finally, Signature Resources Capital Management LLC raised its position in shares of Johnson & Johnson by 262.9% in the 3rd quarter. Signature Resources Capital Management LLC now owns 254 shares of the company’s stock valued at $47,000 after buying an additional 184 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JNJ. HSBC reiterated a “buy” rating and set a $240.00 price target on shares of Johnson & Johnson in a research report on Wednesday, December 10th. Sanford C. Bernstein raised their target price on Johnson & Johnson from $193.00 to $208.00 and gave the company a “market perform” rating in a report on Friday, January 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Johnson & Johnson in a research report on Friday, October 31st. Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday, October 14th. Finally, Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.33.

Johnson & Johnson Stock Down 0.3%

Shares of NYSE JNJ opened at $218.81 on Friday. The company has a 50 day simple moving average of $205.82 and a 200 day simple moving average of $186.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. Johnson & Johnson has a 1 year low of $141.50 and a 1 year high of $220.11. The firm has a market cap of $527.18 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.26 and a beta of 0.34.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 14th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.04. The firm had revenue of $23.99 billion during the quarter, compared to analysts’ expectations of $23.73 billion. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 EPS. On average, research analysts forecast that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.