McBroom & Associates LLC Buys 215 Shares of Johnson & Johnson (NYSE:JNJ)

McBroom & Associates LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 0.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,089 shares of the company’s stock after purchasing an additional 215 shares during the quarter. Johnson & Johnson accounts for about 2.6% of McBroom & Associates LLC’s investment portfolio, making the stock its 20th biggest holding. McBroom & Associates LLC’s holdings in Johnson & Johnson were worth $4,105,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Meridian Financial Partners LLC bought a new stake in Johnson & Johnson in the 2nd quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC raised its holdings in shares of Johnson & Johnson by 26.3% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after purchasing an additional 1,122 shares during the last quarter. Gilbert & Cook Inc. lifted its position in Johnson & Johnson by 3.3% during the fourth 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 during the period. Franklin Parlapiano Turner & Welch LLC grew its position in Johnson & Johnson by 0.7% in the 1st 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 period. Finally, Capital Asset Advisory Services LLC raised its stake in Johnson & Johnson by 8.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock valued at $4,044,000 after buying an additional 2,151 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Morgan Stanley increased their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $173.21.

Insiders Place Their Bets

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

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $167.38 on Wednesday. The company has a market capitalization of $402.92 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock’s 50-day simple moving average is $158.40 and its 200-day simple moving average is $153.85. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping 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 company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the previous year, the firm earned $2.80 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $1.24 per share. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.96%. Johnson & Johnson’s payout ratio 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.