My Legacy Advisors LLC Buys New Stake in Johnson & Johnson (NYSE:JNJ)

My Legacy Advisors LLC purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,736 shares of the company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Christopher J. Hasenberg Inc acquired a new stake in Johnson & Johnson in the 1st quarter worth about $31,000. WFA Asset Management Corp boosted its position in shares of Johnson & Johnson by 61.4% in the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after acquiring an additional 97 shares during the last quarter. Vermillion & White Wealth Management Group LLC purchased a new stake in Johnson & Johnson in the fourth quarter valued at approximately $44,000. Disciplined Equity Management Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth approximately $45,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the 2nd quarter valued at $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on JNJ. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, August 5th. Finally, TD Cowen reduced their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $164.10 on Friday. The company’s fifty day moving average price is $153.92 and its two-hundred day moving average price is $153.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85. The firm has a market capitalization of $394.94 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $167.78.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating 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 firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter in the prior year, the business posted $2.80 earnings per share. Johnson & Johnson’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

About Johnson & Johnson

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.