342,177 Shares in Johnson & Johnson (NYSE:JNJ) Acquired by Distillate Capital Partners LLC

Distillate Capital Partners LLC acquired a new position in Johnson & Johnson (NYSE:JNJ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 342,177 shares of the company’s stock, valued at approximately $50,013,000. Johnson & Johnson makes up about 2.6% of Distillate Capital Partners LLC’s investment portfolio, making the stock its 2nd biggest position.

Other large investors also recently made changes to their positions in the company. Meridian Financial Partners LLC bought a new stake in shares of Johnson & Johnson during the second quarter worth $1,626,000. Summit Financial Wealth Advisors LLC raised its holdings in Johnson & Johnson by 26.3% during the 1st 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. lifted its position in Johnson & Johnson by 3.3% during the 4th 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 boosted its stake 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 valued at $7,464,000 after purchasing an additional 325 shares during the last quarter. Finally, Capital Asset Advisory Services LLC raised its stake in shares of Johnson & Johnson by 8.8% during the first quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after buying an additional 2,151 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Transactions at Johnson & Johnson

In related 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 transaction of $930,113.10. Following the sale, 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 is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

JNJ has been the subject of a number of analyst reports. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. TD Securities reduced their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday. Seven equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $163.21 on Tuesday. The company has a fifty day moving average price of $161.58 and a 200 day moving average price of $154.15. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a market cap of $392.79 billion, a PE ratio of 10.18, a PEG ratio of 2.71 and a beta of 0.53. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.04%. 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.