Lyell Wealth Management LP Has $1.07 Million Stake in Johnson & Johnson (NYSE:JNJ)

Lyell Wealth Management LP boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,332 shares of the company’s stock after acquiring an additional 267 shares during the quarter. Lyell Wealth Management LP’s holdings in Johnson & Johnson were worth $1,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Guardian Wealth Management Inc. increased its holdings in shares of Johnson & Johnson by 1.3% during the second quarter. Guardian Wealth Management Inc. now owns 12,759 shares of the company’s stock worth $1,865,000 after buying an additional 161 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in Johnson & Johnson by 5.9% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 60,750 shares of the company’s stock valued at $8,879,000 after purchasing an additional 3,391 shares in the last quarter. OV Management LLC raised its position in Johnson & Johnson by 1.8% in the 2nd quarter. OV Management LLC now owns 7,229 shares of the company’s stock valued at $1,057,000 after purchasing an additional 129 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Johnson & Johnson by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 4,283,347 shares of the company’s stock worth $626,054,000 after purchasing an additional 109,184 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in shares of Johnson & Johnson by 16.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 573,904 shares of the company’s stock worth $83,882,000 after purchasing an additional 82,787 shares during the last quarter. 69.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JNJ shares. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research report on Monday, September 9th. TD Cowen decreased their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Morgan Stanley upped their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were 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 approximately $3,131,683.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

Shares of JNJ stock opened at $165.52 on Friday. The stock has a 50-day moving average of $159.55 and a 200-day moving average of $153.99. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The stock has a market cap of $398.45 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

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

Johnson & Johnson Announces Dividend

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

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.