Edge Capital Group LLC Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

Edge Capital Group LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,138 shares of the company’s stock after acquiring an additional 2,486 shares during the period. Johnson & Johnson comprises approximately 1.6% of Edge Capital Group LLC’s portfolio, making the stock its 11th largest position. Edge Capital Group LLC’s holdings in Johnson & Johnson were worth $15,802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hussman Strategic Advisors Inc. acquired a new position in Johnson & Johnson in the third quarter valued at $1,519,000. Heritage Wealth Advisors increased its stake in Johnson & Johnson by 2.6% in the third quarter. Heritage Wealth Advisors now owns 75,723 shares of the company’s stock valued at $11,274,000 after purchasing an additional 1,908 shares during the period. Illinois Municipal Retirement Fund increased its stake in Johnson & Johnson by 379.7% in the third quarter. Illinois Municipal Retirement Fund now owns 46,929 shares of the company’s stock valued at $6,987,000 after purchasing an additional 37,146 shares during the period. CWH Capital Management Inc. increased its stake in Johnson & Johnson by 2.5% in the third quarter. CWH Capital Management Inc. now owns 18,694 shares of the company’s stock valued at $2,783,000 after purchasing an additional 459 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new position in Johnson & Johnson in the third quarter valued at $228,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 16,115 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total transaction of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares in the company, valued at $10,233,336.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.27% of the company’s stock.

A number of research analysts have commented on the stock. Raymond James restated a “buy” rating on shares of Johnson & Johnson in a research note on Friday. Credit Suisse Group lifted their price objective on shares of Johnson & Johnson from $163.00 to $168.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. Stifel Nicolaus lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Wednesday, August 19th. ValuEngine upgraded shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Cantor Fitzgerald boosted their price target on shares of Johnson & Johnson from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 14th. One research 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. The company has a consensus rating of “Buy” and an average target price of $164.93.

Shares of JNJ opened at $146.36 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.24 and a debt-to-equity ratio of 0.51. The firm’s 50-day moving average is $145.51 and its two-hundred day moving average is $146.57. Johnson & Johnson has a twelve month low of $109.16 and a twelve month high of $157.00. The firm has a market capitalization of $385.30 billion, a P/E ratio of 23.01, a PEG ratio of 3.04 and a beta of 0.69.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Sunday, October 18th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.22. Johnson & Johnson had a net margin of 21.01% and a return on equity of 34.64%. The company had revenue of $21.08 billion for the quarter, compared to analyst estimates of $20.15 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 7.99 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 24th will be given a dividend of $1.01 per share. The ex-dividend date is Monday, November 23rd. This represents a $4.04 annualized dividend and a yield of 2.76%. Johnson & Johnson’s payout ratio is currently 46.54%.

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.

Further Reading: What Are Treasury Bonds?

Want to see what other hedge funds are holding JNJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson & Johnson (NYSE:JNJ).

Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

Receive News & Ratings for Johnson & Johnson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson & Johnson and related companies with MarketBeat.com's FREE daily email newsletter.