Johnson & Johnson (NYSE:JNJ) is Edgestream Partners L.P.’s 8th Largest Position

Edgestream Partners L.P. increased its position in Johnson & Johnson (NYSE:JNJ) by 132.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,787 shares of the company’s stock after buying an additional 40,966 shares during the quarter. Johnson & Johnson accounts for approximately 0.5% of Edgestream Partners L.P.’s holdings, making the stock its 8th biggest holding. Edgestream Partners L.P.’s holdings in Johnson & Johnson were worth $10,492,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. lifted its position in shares of Johnson & Johnson by 3.3% in the 4th quarter. Gilbert & Cook Inc. now owns 9,111 shares of the company’s stock worth $1,428,000 after purchasing an additional 288 shares during the period. 9258 Wealth Management LLC increased its stake in shares of Johnson & Johnson by 2.1% during the fourth quarter. 9258 Wealth Management LLC now owns 22,034 shares of the company’s stock valued at $3,454,000 after purchasing an additional 443 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in shares of Johnson & Johnson by 66.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 14,245 shares of the company’s stock valued at $2,244,000 after purchasing an additional 5,680 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter worth approximately $2,823,000. Finally, Haverford Financial Services Inc. increased its position in Johnson & Johnson by 0.4% during the 4th quarter. Haverford Financial Services Inc. now owns 60,871 shares of the company’s stock valued at $9,541,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Performance

JNJ stock opened at $167.02 on Tuesday. 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 has a 1 year low of $143.13 and a 1 year high of $168.85. The company has a market cap of $401.96 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. The stock’s fifty day moving average price is $159.98 and its 200-day moving average price is $153.98.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $22.33 billion. During the same period last year, the firm posted $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Sanford C. Bernstein boosted their target price on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, July 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. Finally, TD Securities decreased their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Company 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.