Harmony Asset Management LLC Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Harmony Asset Management LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,787 shares of the company’s stock after buying an additional 576 shares during the period. Johnson & Johnson accounts for 1.2% of Harmony Asset Management LLC’s portfolio, making the stock its 24th biggest holding. Harmony Asset Management LLC’s holdings in Johnson & Johnson were worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Triangle Securities Wealth Management raised its holdings in Johnson & Johnson by 7.8% in the second quarter. Triangle Securities Wealth Management now owns 21,223 shares of the company’s stock worth $3,102,000 after purchasing an additional 1,538 shares during the period. Epiq Partners LLC raised its holdings in Johnson & Johnson by 6.5% in the second quarter. Epiq Partners LLC now owns 21,124 shares of the company’s stock worth $3,087,000 after purchasing an additional 1,283 shares in the last quarter. First Affirmative Financial Network raised its stake in shares of Johnson & Johnson by 4.1% during the second quarter. First Affirmative Financial Network now owns 5,323 shares of the company’s stock valued at $778,000 after acquiring an additional 211 shares in the last quarter. PFW Advisors LLC increased its holdings in Johnson & Johnson by 2.4% in the 2nd quarter. PFW Advisors LLC now owns 14,304 shares of the company’s stock worth $2,091,000 after buying an additional 336 shares during the period. Finally, Matrix Trust Co lifted its stake in shares of Johnson & Johnson by 4.6% in the second quarter. Matrix Trust Co now owns 11,367 shares of the company’s stock worth $1,661,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $154.80 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a market cap of $372.70 billion, a P/E ratio of 22.40, a PEG ratio of 2.75 and a beta of 0.51. The company has a 50-day moving average of $159.15 and a two-hundred day moving average of $156.46. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the business posted $2.66 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JNJ. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Citigroup boosted their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Royal Bank of Canada increased their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.67.

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.