Independence Wealth Advisors Inc. bought a new stake in Johnson & Johnson (NYSE:JNJ) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,280 shares of the company’s stock, valued at approximately $318,000. Johnson & Johnson accounts for about 0.3% of Independence Wealth Advisors Inc.’s investment portfolio, making the stock its 22nd biggest position.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation N.A. increased its stake in Johnson & Johnson by 0.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 20,173 shares of the company’s stock valued at $2,810,000 after purchasing an additional 73 shares in the last quarter. Cambridge Advisors Inc. increased its stake in Johnson & Johnson by 0.3% in the 4th quarter. Cambridge Advisors Inc. now owns 22,436 shares of the company’s stock valued at $2,895,000 after purchasing an additional 78 shares in the last quarter. Vishria Bird Financial Group LLC increased its stake in Johnson & Johnson by 3.0% in the 2nd quarter. Vishria Bird Financial Group LLC now owns 2,736 shares of the company’s stock valued at $381,000 after purchasing an additional 80 shares in the last quarter. Burt Wealth Advisors increased its stake in Johnson & Johnson by 0.6% in the 4th quarter. Burt Wealth Advisors now owns 12,898 shares of the company’s stock valued at $1,665,000 after purchasing an additional 82 shares in the last quarter. Finally, Timber Creek Capital Management LLC increased its position in Johnson & Johnson by 8.7% during the fourth quarter. Timber Creek Capital Management LLC now owns 1,035 shares of the company’s stock worth $133,000 after buying an additional 83 shares in the last quarter. 67.35% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on JNJ. Raymond James dropped their price target on Johnson & Johnson from $147.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Co reissued an “outperform” rating and set a $157.00 price target (up previously from $152.00) on shares of Johnson & Johnson in a research report on Monday, May 6th. Royal Bank of Canada reissued a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Credit Suisse Group set a $156.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating and set a $139.00 price target for the company. in a research report on Thursday, July 18th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Johnson & Johnson has a consensus rating of “Buy” and an average price target of $148.56.
Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.16. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.39 billion. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. Johnson & Johnson’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. Research analysts anticipate that Johnson & Johnson will post 8.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, August 26th. Johnson & Johnson’s dividend payout ratio is currently 46.45%.
In other Johnson & Johnson news, Director Marillyn A. Hewson acquired 3,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average price of $139.68 per share, with a total value of $419,040.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $419,040. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by insiders.
Johnson & Johnson Company 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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