Richardson Financial Services Inc. Raises Position in Johnson & Johnson (NYSE:JNJ)

Richardson Financial Services Inc. grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 21.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 497 shares of the company’s stock after acquiring an additional 88 shares during the period. Richardson Financial Services Inc.’s holdings in Johnson & Johnson were worth $73,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. WCG Wealth Advisors LLC raised its holdings in Johnson & Johnson by 13.0% in the second quarter. WCG Wealth Advisors LLC now owns 12,124 shares of the company’s stock worth $1,772,000 after purchasing an additional 1,395 shares in the last quarter. AllGen Financial Advisors Inc. grew its position in shares of Johnson & Johnson by 14.0% in the 2nd quarter. AllGen Financial Advisors Inc. now owns 36,088 shares of the company’s stock worth $5,275,000 after buying an additional 4,443 shares during the period. Kendall Capital Management increased its stake in shares of Johnson & Johnson by 5.1% in the 2nd quarter. Kendall Capital Management now owns 7,543 shares of the company’s stock worth $1,102,000 after acquiring an additional 365 shares in the last quarter. Miramar Capital LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $258,000. Finally, Altrius Capital Management Inc boosted its stake in Johnson & Johnson by 12.8% during the second quarter. Altrius Capital Management Inc now owns 28,222 shares of the company’s stock worth $4,125,000 after acquiring an additional 3,210 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $164.82 on Friday. The firm’s 50-day moving average price is $161.02 and its 200-day moving average price is $154.17. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a market cap of $396.67 billion, a PE ratio of 10.28, a PEG ratio of 2.71 and a beta of 0.53. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter last year, the company posted $2.80 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein raised their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Morgan Stanley raised their price objective 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. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Daiwa Capital Markets cut 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 note on Tuesday, July 23rd. Seven 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.21.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated 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 $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

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.