Cullen Investment Group LTD. Acquires 405 Shares of Johnson & Johnson (NYSE:JNJ)

Cullen Investment Group LTD. boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,366 shares of the company’s stock after acquiring an additional 405 shares during the period. Johnson & Johnson makes up approximately 1.7% of Cullen Investment Group LTD.’s investment portfolio, making the stock its 14th largest holding. Cullen Investment Group LTD.’s holdings in Johnson & Johnson were worth $11,079,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Johnson & Johnson in the second quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $44,000. MFA Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $43,000. Grayhawk Investment Strategies Inc. grew 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 purchasing an additional 259 shares during the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson in the second quarter valued at approximately $46,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Down 0.1 %

Shares of JNJ stock traded down $0.21 during mid-day trading on Friday, hitting $160.29. The company’s stock had a trading volume of 5,331,694 shares, compared to its average volume of 7,091,981. The company’s fifty day simple moving average is $162.60 and its 200-day simple moving average is $154.33. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. 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 market cap of $385.77 billion, a PE ratio of 9.99, a P/E/G ratio of 2.69 and a beta of 0.52.

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

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.09%. Johnson & Johnson’s payout ratio is presently 30.92%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the company’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 approximately $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on JNJ shares. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Friday, September 20th. Morgan Stanley increased their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Finally, TD Securities reduced their target price on Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

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.