Frank Rimerman Advisors LLC Buys 29,891 Shares of Johnson & Johnson (NYSE:JNJ)

Frank Rimerman Advisors LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 1,811.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 31,541 shares of the company’s stock after acquiring an additional 29,891 shares during the period. Frank Rimerman Advisors LLC’s holdings in Johnson & Johnson were worth $4,610,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson in the 2nd quarter valued at approximately $1,626,000. Summit Financial Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 26.3% in the first quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock worth $853,000 after purchasing an additional 1,122 shares during the last quarter. Gilbert & Cook Inc. increased its holdings in 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 purchasing an additional 288 shares during the period. Franklin Parlapiano Turner & Welch LLC lifted its holdings in Johnson & Johnson by 0.7% during 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 during the period. Finally, Capital Asset Advisory Services LLC grew its position in shares of Johnson & Johnson by 8.8% in 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. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.4 %

Shares of NYSE:JNJ opened at $164.16 on Friday. The firm has a market cap of $395.08 billion, a P/E ratio of 10.23, a PEG ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The business’s 50 day simple moving average is $161.30 and its two-hundred day simple moving average is $154.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

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 business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same quarter last year, the firm posted $2.80 EPS. Johnson & Johnson’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JNJ. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group lowered their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, September 16th. Finally, Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $173.21.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.