Eastover Investment Advisors LLC Grows Stock Position in Johnson & Johnson (NYSE:JNJ)

Eastover Investment Advisors LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,112 shares of the company’s stock after buying an additional 4,130 shares during the quarter. Johnson & Johnson comprises approximately 3.3% of Eastover Investment Advisors LLC’s portfolio, making the stock its 17th largest position. Eastover Investment Advisors LLC’s holdings in Johnson & Johnson were worth $6,987,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Callan Family Office LLC raised its position in shares of Johnson & Johnson by 38.3% during the 3rd quarter. Callan Family Office LLC now owns 9,783 shares of the company’s stock valued at $1,585,000 after buying an additional 2,711 shares during the period. Exeter Financial LLC raised its position in shares of Johnson & Johnson by 1.8% during the 3rd quarter. Exeter Financial LLC now owns 25,531 shares of the company’s stock valued at $4,138,000 after buying an additional 455 shares during the period. Aprio Wealth Management LLC raised its position in shares of Johnson & Johnson by 17.2% during the 3rd quarter. Aprio Wealth Management LLC now owns 7,830 shares of the company’s stock valued at $1,269,000 after buying an additional 1,147 shares during the period. Chapin Davis Inc. raised its position in shares of Johnson & Johnson by 5.7% during the 3rd quarter. Chapin Davis Inc. now owns 23,255 shares of the company’s stock valued at $3,769,000 after buying an additional 1,262 shares during the period. Finally, Bangor Savings Bank raised its position in shares of Johnson & Johnson by 4.4% during the 3rd quarter. Bangor Savings Bank now owns 28,115 shares of the company’s stock valued at $4,556,000 after buying an additional 1,182 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $159.56 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $162.60 and a 200 day moving average price of $154.30. The company has a market cap of $384.01 billion, a P/E ratio of 9.95, a PEG ratio of 2.69 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its 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. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Sell-side analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed 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 of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.11%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Wall Street Analyst Weigh In

JNJ has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Friday, September 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, September 30th. TD Securities cut their target price on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Seven 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. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average target price of $173.21.

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.