Gateway Wealth Partners LLC Purchases 270 Shares of Johnson & Johnson (NYSE:JNJ)

Gateway Wealth Partners LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 12.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 2,412 shares of the company’s stock after buying an additional 270 shares during the period. Gateway Wealth Partners LLC’s holdings in Johnson & Johnson were worth $352,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. Eagle Asset Management Inc. bought a new position in shares of Johnson & Johnson in the 4th quarter worth $1,446,000. CIBC Private Wealth Group LLC grew its stake in Johnson & Johnson by 0.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 717,254 shares of the company’s stock valued at $112,422,000 after acquiring an additional 3,938 shares during the period. Royal London Asset Management Ltd. grew its stake in Johnson & Johnson by 3.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,619,599 shares of the company’s stock valued at $253,856,000 after acquiring an additional 53,116 shares during the period. ROI Financial Advisors LLC acquired a new position in Johnson & Johnson in the fourth quarter valued at about $447,000. Finally, Edge Capital Group LLC grew its stake in Johnson & Johnson by 12.0% in the fourth quarter. Edge Capital Group LLC now owns 111,673 shares of the company’s stock valued at $17,504,000 after acquiring an additional 12,000 shares during the period. 69.55% of the stock is currently owned by institutional investors.

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 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 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 available through this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ opened at $162.02 on Tuesday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The firm has a market capitalization of $389.93 billion, a PE ratio of 10.10, a PEG ratio of 2.69 and a beta of 0.53. 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 business’s 50-day simple moving average is $162.30 and its 200 day simple moving average is $154.18.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm 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%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.80 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm 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 was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.06%. Johnson & Johnson’s dividend payout ratio is 30.92%.

Analysts Set New Price Targets

A number of research analysts have issued reports on JNJ shares. TD Securities decreased their target price on Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research note on Friday, September 20th. 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 note on Thursday, July 18th. Finally, The Goldman Sachs Group cut their price target on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson 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.