Cranbrook Wealth Management LLC Increases Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Cranbrook Wealth Management LLC boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 157.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,847 shares of the company’s stock after acquiring an additional 2,961 shares during the period. Cranbrook Wealth Management LLC’s holdings in Johnson & Johnson were worth $708,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson in the first quarter valued at approximately $31,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the 2nd quarter worth $43,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $44,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Johnson & Johnson during the second quarter worth about $46,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on JNJ. The Goldman Sachs Group lowered their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Morgan Stanley boosted their price target on Johnson & Johnson from $167.00 to $169.00 and gave the stock 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 company’s stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on 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 approximately $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $167.07 on Wednesday. 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 fifty day moving average price is $160.38 and its two-hundred day moving average price is $154.01. The stock has a market cap of $402.08 billion, a PE ratio of 10.42, 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.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 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 business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. During the same quarter last year, the company earned $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts forecast that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Johnson & Johnson 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.