Kestra Private Wealth Services LLC bought a new position in shares of Johnson & Johnson (NYSE:JNJ) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 66,630 shares of the company’s stock, valued at approximately $9,920,000. Johnson & Johnson accounts for approximately 0.9% of Kestra Private Wealth Services LLC’s investment portfolio, making the stock its 12th biggest holding.
Several other institutional investors have also recently added to or reduced their stakes in JNJ. Morgan Stanley lifted its holdings in shares of Johnson & Johnson by 0.3% during the first quarter. Morgan Stanley now owns 20,801,433 shares of the company’s stock worth $2,727,694,000 after purchasing an additional 54,563 shares during the period. Price Wealth LLC lifted its holdings in shares of Johnson & Johnson by 8.6% during the second quarter. Price Wealth LLC now owns 1,270 shares of the company’s stock worth $179,000 after purchasing an additional 101 shares during the period. Financial Advisory Service Inc. lifted its holdings in shares of Johnson & Johnson by 2.5% during the second quarter. Financial Advisory Service Inc. now owns 17,970 shares of the company’s stock worth $2,527,000 after purchasing an additional 431 shares during the period. Abundance Wealth Counselors lifted its holdings in shares of Johnson & Johnson by 183.3% during the second quarter. Abundance Wealth Counselors now owns 7,109 shares of the company’s stock worth $1,000,000 after purchasing an additional 4,600 shares during the period. Finally, Adams Asset Advisors LLC lifted its holdings in shares of Johnson & Johnson by 178.6% during the second quarter. Adams Asset Advisors LLC now owns 15,980 shares of the company’s stock worth $2,247,000 after purchasing an additional 10,245 shares during the period. 67.44% of the stock is owned by hedge funds and other institutional investors.
Johnson & Johnson stock opened at $146.36 on Friday. The stock has a market capitalization of $385.30 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 3.04 and a beta of 0.69. Johnson & Johnson has a 12 month low of $109.16 and a 12 month high of $157.00. The business has a 50 day simple moving average of $145.51 and a 200-day simple moving average of $146.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.48 and a quick ratio of 1.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 24th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Monday, November 23rd. Johnson & Johnson’s dividend payout ratio (DPR) is presently 46.54%.
In other news, EVP Kathryn E. Wengel sold 16,115 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $153.52, for a total value of $2,473,974.80. Following the completion of the sale, the executive vice president now directly owns 66,658 shares in the company, valued at $10,233,336.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.
A number of equities research analysts recently commented on the company. ValuEngine raised Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Stifel Nicolaus downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Credit Suisse Group boosted their price target on Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a report on Wednesday, October 14th. Cantor Fitzgerald boosted their price target on Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 14th. Finally, Raymond James reissued a “buy” rating on shares of Johnson & Johnson in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Johnson & Johnson currently has an average rating of “Buy” and an average target price of $164.93.
Johnson & Johnson Profile
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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