Ballast Inc. boosted its stake in Johnson & Johnson (NYSE:JNJ) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,076 shares of the company’s stock after acquiring an additional 458 shares during the period. Johnson & Johnson comprises approximately 1.2% of Ballast Inc.’s portfolio, making the stock its 18th largest position. Ballast Inc.’s holdings in Johnson & Johnson were worth $2,095,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lake Point Wealth Management lifted its position in Johnson & Johnson by 144.4% in the first quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock valued at $38,000 after acquiring an additional 169 shares during the last quarter. Islay Capital Management LLC purchased a new stake in shares of Johnson & Johnson in the second quarter valued at about $42,000. FAI Wealth Management raised its holdings in shares of Johnson & Johnson by 45.9% in the second quarter. FAI Wealth Management now owns 321 shares of the company’s stock valued at $45,000 after buying an additional 101 shares during the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of Johnson & Johnson by 160.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Finally, HWG Holdings LP purchased a new stake in shares of Johnson & Johnson in the second quarter valued at about $49,000. 67.44% of the stock is owned by hedge funds and other institutional investors.
In other Johnson & Johnson news, EVP Ashley Mcevoy sold 29,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the transaction, the executive vice president now directly owns 21,682 shares in the company, valued at $3,197,444.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn E. Wengel sold 16,115 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total transaction of $2,473,974.80. Following the completion of the sale, the executive vice president now directly owns 66,658 shares in the company, valued at approximately $10,233,336.16. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
A number of brokerages have recently commented on JNJ. Stifel Nicolaus cut shares of Johnson & Johnson from a “buy” rating to a “hold” rating in a report on Wednesday, August 19th. Raymond James upped their target price on shares of Johnson & Johnson from $157.00 to $158.00 and gave the company an “outperform” rating in a report on Friday, July 17th. ValuEngine raised shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a report on Monday, August 3rd. Zacks Investment Research cut shares of Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 target price for the company. in a report on Tuesday, July 7th. Finally, Citigroup boosted their price target on shares of Johnson & Johnson from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Johnson & Johnson currently has a consensus rating of “Buy” and a consensus price target of $164.93.
Shares of JNJ opened at $148.10 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average is $148.57 and its two-hundred day moving average is $146.59. Johnson & Johnson has a twelve month low of $109.16 and a twelve month high of $157.00. The firm has a market capitalization of $389.92 billion, a P/E ratio of 23.29, a PEG ratio of 3.36 and a beta of 0.68.
Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Sunday, October 18th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.22. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. The company had revenue of $21.08 billion for the quarter, compared to analyst estimates of $20.15 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts predict that Johnson & Johnson will post 8 EPS for the current year.
Johnson & Johnson Company Profile
Johnson & Johnson researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DR.
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