Meridian Wealth Advisors LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Meridian Wealth Advisors LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,468 shares of the company’s stock after purchasing an additional 234 shares during the period. Meridian Wealth Advisors LLC’s holdings in Johnson & Johnson were worth $2,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC acquired a new position in Johnson & Johnson during the second quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of Johnson & Johnson during the 1st quarter worth approximately $31,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the second quarter worth $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter worth $44,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

JNJ stock opened at $164.41 on Friday. The company has a market capitalization of $395.68 billion, a PE ratio of 10.25, a P/E/G ratio of 2.73 and a beta of 0.52. 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 moving average is $157.57 and its two-hundred day moving average is $153.83. 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 earnings per share (EPS) 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 firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same period in the prior year, the company posted $2.80 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

Analyst Ratings Changes

Several research analysts recently weighed in on JNJ shares. TD Cowen cut 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. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Morgan Stanley raised their price target on 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 increased their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Seven equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity at Johnson & Johnson

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 stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is owned by corporate insiders.

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.