Abich Financial Wealth Management LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Abich Financial Wealth Management LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 597.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,673 shares of the company’s stock after purchasing an additional 1,433 shares during the period. Johnson & Johnson makes up approximately 0.2% of Abich Financial Wealth Management LLC’s portfolio, making the stock its 27th largest position. Abich Financial Wealth Management LLC’s holdings in Johnson & Johnson were worth $245,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson during the second quarter worth about $1,626,000. Summit Financial Wealth Advisors LLC grew its holdings in Johnson & Johnson by 26.3% in 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. increased its position in shares of Johnson & Johnson by 3.3% in the fourth quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after buying an additional 288 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC boosted its position in shares of 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 buying an additional 325 shares in the last quarter. Finally, Capital Asset Advisory Services LLC increased its holdings 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 acquiring an additional 2,151 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several research reports. The Goldman Sachs Group lowered their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Sanford C. Bernstein boosted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley raised their target price 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. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Down 0.3 %

Shares of JNJ stock opened at $162.80 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The firm’s 50 day moving average price is $161.82 and its two-hundred day moving average price is $154.18. The stock has a market cap of $391.90 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the previous year, the business posted $2.80 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.05%. Johnson & Johnson’s payout ratio is currently 30.92%.

Johnson & Johnson Company 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.