Balboa Wealth Partners Purchases 267 Shares of Johnson & Johnson (NYSE:JNJ)

Balboa Wealth Partners increased its stake in Johnson & Johnson (NYSE:JNJ) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,549 shares of the company’s stock after buying an additional 267 shares during the period. Balboa Wealth Partners’ holdings in Johnson & Johnson were worth $1,223,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $27,000. Highline Wealth Partners LLC purchased a new position in Johnson & Johnson during the 3rd quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after buying an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC grew its position in shares of Johnson & Johnson by 400.0% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Johnson & Johnson in the 2nd quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JNJ. Morgan Stanley lifted their price objective on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.00.

Johnson & Johnson Trading Down 0.9 %

Shares of JNJ stock opened at $151.86 on Friday. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $168.85. The stock has a market cap of $365.62 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.72 and a beta of 0.53. The business has a fifty day simple moving average of $161.82 and a 200-day simple moving average of $155.99. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company earned $2.66 EPS. On average, analysts forecast that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.27%. Johnson & Johnson’s payout ratio is currently 71.78%.

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.