Financial Gravity Companies Inc. Takes $2.19 Million Position in Johnson & Johnson $JNJ

Financial Gravity Companies Inc. acquired a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 14,342 shares of the company’s stock, valued at approximately $2,191,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GFG Capital LLC acquired a new stake in shares of Johnson & Johnson during the 2nd quarter valued at about $35,000. Stone House Investment Management LLC acquired a new position in Johnson & Johnson in the first quarter worth approximately $47,000. 1248 Management LLC acquired a new stake in Johnson & Johnson in the first quarter valued at approximately $48,000. Harvest Fund Management Co. Ltd bought a new stake in Johnson & Johnson in the first quarter worth approximately $52,000. Finally, Pandora Wealth Inc. bought a new stake in Johnson & Johnson in the first quarter worth approximately $65,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 0.4%

Johnson & Johnson stock opened at $196.00 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $197.18. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market capitalization of $472.22 billion, a PE ratio of 18.92, a PEG ratio of 2.19 and a beta of 0.38. The business’s 50-day simple moving average is $185.81 and its 200-day simple moving average is $170.04.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%. Equities research analysts forecast that Johnson & Johnson will post 10.58 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 9th. Stockholders of record on Tuesday, November 25th will be paid a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on JNJ shares. Daiwa Capital Markets raised shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a research note on Monday, October 20th. Loop Capital set a $190.00 target price on Johnson & Johnson in a report on Wednesday, October 22nd. Sanford C. Bernstein upped their price target on Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. The Goldman Sachs Group increased their price objective on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Johnson & Johnson in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $201.05.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the transaction, the executive vice president directly owned 178,013 shares in the company, valued at $31,652,491.53. This represents a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.