Concurrent Investment Advisors LLC Raises Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Concurrent Investment Advisors LLC boosted its position in Johnson & Johnson (NYSE:JNJ) by 8.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,736 shares of the company’s stock after purchasing an additional 8,352 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Johnson & Johnson were worth $16,487,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in Johnson & Johnson during the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC boosted 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 purchasing an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the 2nd quarter worth $43,000. 69.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JNJ. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.00.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Trading Down 0.4 %

Johnson & Johnson stock opened at $157.76 on Thursday. The firm has a market cap of $379.83 billion, a PE ratio of 22.83, a P/E/G ratio of 2.81 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 stock’s 50 day simple moving average is $162.96 and its two-hundred day simple moving average is $155.76. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the prior year, the company posted $2.66 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a yield of 3.14%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

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.