Sierra Summit Advisors LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Sierra Summit Advisors LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 7.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,195 shares of the company’s stock after purchasing an additional 656 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Johnson & Johnson were worth $1,344,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Meridian Financial Partners LLC acquired a new stake in Johnson & Johnson in the second quarter valued at $1,626,000. Summit Financial Wealth Advisors LLC increased its position in shares of Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares during the last quarter. Gilbert & Cook Inc. raised its stake in shares of Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after purchasing an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC lifted its position in shares of Johnson & Johnson by 0.7% during the first quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock worth $7,464,000 after purchasing an additional 325 shares during the last quarter. Finally, Capital Asset Advisory Services LLC grew its stake in Johnson & Johnson by 8.8% in the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after purchasing an additional 2,151 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on JNJ. The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. TD Cowen lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Morgan Stanley raised their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $165.52 on Monday. The business has a 50 day simple moving average of $159.55 and a 200 day simple moving average of $153.94. 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 $398.45 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85.

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. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. On average, equities research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Johnson & Johnson Profile

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.