Abacus Wealth Partners LLC Buys 1,885 Shares of Johnson & Johnson (NYSE:JNJ)

Abacus Wealth Partners LLC lifted its position in Johnson & Johnson (NYSE:JNJ) by 36.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,023 shares of the company’s stock after buying an additional 1,885 shares during the quarter. Johnson & Johnson comprises approximately 0.2% of Abacus Wealth Partners LLC’s holdings, making the stock its 28th biggest position. Abacus Wealth Partners LLC’s holdings in Johnson & Johnson were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the second quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson in the 4th quarter valued at about $44,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the second quarter worth approximately $43,000. Grayhawk Investment Strategies Inc. boosted its holdings in shares of Johnson & Johnson by 528.6% during the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $46,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

JNJ stock opened at $160.50 on Friday. The stock has a market cap of $386.27 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 2.69 and a beta of 0.53. 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 company has a 50 day simple moving average of $162.61 and a 200 day simple moving average of $154.30. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (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 business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the prior year, the firm earned $2.80 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on JNJ shares. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.21.

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.