Brightwater Advisory LLC Buys Shares of 3,591 Johnson & Johnson (NYSE:JNJ)

Brightwater Advisory LLC bought a new position in shares of Johnson & Johnson (NYSE:JNJ) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,591 shares of the company’s stock, valued at approximately $525,000.

A number of other institutional investors have also recently added to or reduced their stakes in JNJ. Heritage Wealth Management Inc. bought a new stake in shares of Johnson & Johnson in the 2nd quarter worth $4,631,000. Lazari Capital Management Inc. grew its stake in shares of Johnson & Johnson by 6.9% in the 2nd quarter. Lazari Capital Management Inc. now owns 5,985 shares of the company’s stock worth $875,000 after purchasing an additional 387 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Johnson & Johnson during the second quarter worth approximately $66,813,000. Creekside Partners bought a new position in shares of Johnson & Johnson in the second quarter valued at $1,187,000. Finally, Brown Financial Advisors acquired a new stake in shares of Johnson & Johnson during the 2nd quarter valued at $1,973,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $162.02 on Wednesday. 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 company has a 50-day moving average of $162.50 and a 200-day moving average of $154.21. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a market capitalization of $389.93 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.69 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the company earned $2.80 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

A number of research firms recently weighed in on JNJ. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group reduced their price objective on 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 reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday. TD Securities lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Finally, Daiwa America downgraded shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’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 directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company’s stock.

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.