Legacy Capital Group California Inc. Acquires 142 Shares of Johnson & Johnson (NYSE:JNJ)

Legacy Capital Group California Inc. grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,412 shares of the company’s stock after purchasing an additional 142 shares during the quarter. Johnson & Johnson comprises about 0.7% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its 20th biggest position. Legacy Capital Group California Inc.’s holdings in Johnson & Johnson were worth $2,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the period. MFA Wealth Advisors LLC bought a new position in Johnson & Johnson in the 2nd quarter worth $43,000. Fairfield Financial Advisors LTD bought a new position in Johnson & Johnson in the 2nd quarter worth $46,000. Finally, Fairway Wealth LLC raised its holdings in Johnson & Johnson by 217.1% in the 2nd quarter. Fairway Wealth LLC now owns 333 shares of the company’s stock worth $49,000 after acquiring an additional 228 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on JNJ shares. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. The Goldman Sachs Group dropped their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Daiwa Capital Markets downgraded shares of 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. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.93.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $160.88 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm’s 50-day simple moving average is $163.38 and its 200-day simple moving average is $154.98. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The firm has a market cap of $387.28 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last issued 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 net margin of 19.14% and a return on equity of 35.46%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the business earned $2.66 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Johnson & Johnson will post 9.94 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.08%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

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.