Johnson & Johnson (NYSE:JNJ) Shares Acquired by Cranbrook Wealth Management LLC

Cranbrook Wealth Management LLC raised its stake in shares of Johnson & Johnson (NYSE:JNJ) by 157.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,847 shares of the company’s stock after purchasing an additional 2,961 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Johnson & Johnson were worth $708,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new stake in Johnson & Johnson during the first quarter worth approximately $31,000. MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth $43,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at $44,000. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Johnson & Johnson during the 2nd quarter valued at $46,000. 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 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 completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

JNJ has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research report on Tuesday, July 30th. TD Securities reduced their price target on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. The Goldman Sachs Group dropped their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, TD Cowen decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Seven equities research 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. According to MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Johnson & Johnson Price Performance

Shares of JNJ stock opened at $167.07 on Wednesday. The firm has a fifty day moving average of $160.38 and a two-hundred day moving average of $154.01. The firm has a market cap of $402.08 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. 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 posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $22.33 billion. During the same period last year, the firm earned $2.80 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal 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 paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.97%. Johnson & Johnson’s payout ratio is 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.