Ascent Group LLC Acquires 15,141 Shares of Johnson & Johnson (NYSE:JNJ)

Ascent Group LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 80.2% during the third quarter, HoldingsChannel reports. The firm owned 34,026 shares of the company’s stock after acquiring an additional 15,141 shares during the quarter. Ascent Group LLC’s holdings in Johnson & Johnson were worth $5,514,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. increased its stake in Johnson & Johnson by 5,447.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 121,996 shares of the company’s stock worth $19,773,000 after purchasing an additional 119,797 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $3,391,000. Alerus Financial NA increased its position in shares of Johnson & Johnson by 84.3% during the third quarter. Alerus Financial NA now owns 53,127 shares of the company’s stock worth $8,610,000 after acquiring an additional 24,296 shares in the last quarter. Paradigm Capital Management LLC NV acquired a new stake in shares of Johnson & Johnson during the third quarter worth $1,690,000. Finally, FSA Wealth Management LLC acquired a new position in Johnson & Johnson in the 3rd quarter worth $267,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup lifted their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price target on Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Morgan Stanley increased their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.67.

Johnson & Johnson Stock Performance

JNJ opened at $155.01 on Monday. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market cap of $373.21 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.75 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The business has a 50 day moving average of $159.15 and a 200-day moving average of $156.46.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.66 EPS. On average, equities research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Johnson & Johnson Company 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.