Black Diamond Financial LLC Raises Position in Johnson & Johnson (NYSE:JNJ)

Black Diamond Financial LLC raised its holdings in Johnson & Johnson (NYSE:JNJ) by 86.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,747 shares of the company’s stock after acquiring an additional 1,273 shares during the quarter. Black Diamond Financial LLC’s holdings in Johnson & Johnson were worth $401,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. increased its stake in shares of Johnson & Johnson by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock valued at $1,428,000 after acquiring an additional 288 shares during the last quarter. 9258 Wealth Management LLC raised its stake in Johnson & Johnson by 2.1% during the fourth quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock worth $3,454,000 after purchasing an additional 443 shares during the period. Gryphon Financial Partners LLC boosted its holdings in shares of Johnson & Johnson by 66.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock valued at $2,244,000 after purchasing an additional 5,680 shares during the last quarter. Laffer Tengler Investments Inc. grew its stake in shares of Johnson & Johnson by 4.4% during the 4th quarter. Laffer Tengler Investments Inc. now owns 49,558 shares of the company’s stock valued at $7,768,000 after buying an additional 2,087 shares during the period. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of Johnson & Johnson during the 4th quarter worth $533,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JNJ. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, September 9th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Johnson & Johnson Trading Up 0.5 %

NYSE:JNJ opened at $165.52 on Monday. The stock has a market cap of $398.45 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. 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 $159.55 and its 200 day simple moving average is $153.94.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same period in the prior year, the company posted $2.80 EPS. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson 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 completion of the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.