Concurrent Investment Advisors LLC Increases Position in Johnson & Johnson (NYSE:JNJ)

Concurrent Investment Advisors LLC lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 101,736 shares of the company’s stock after buying 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 quarter.

Several other hedge funds also recently bought and sold shares of the company. Gordian Advisors LLC purchased a new position in shares of Johnson & Johnson in the third quarter valued at about $547,000. Umpqua Bank boosted its stake in Johnson & Johnson by 2.3% in the 3rd quarter. Umpqua Bank now owns 18,867 shares of the company’s stock worth $3,058,000 after purchasing an additional 423 shares during the period. Benchmark Financial Wealth Advisors LLC raised its position in shares of Johnson & Johnson by 5.3% during the third quarter. Benchmark Financial Wealth Advisors LLC now owns 1,520 shares of the company’s stock valued at $246,000 after buying an additional 76 shares during the last quarter. Radnor Capital Management LLC purchased a new position in shares of Johnson & Johnson in the third quarter worth $9,318,000. Finally, Wisconsin Capital Management LLC bought a new position in shares of Johnson & Johnson during the third quarter worth $203,000. Institutional investors own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on JNJ. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a report on Wednesday, October 16th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $160.00 to $150.00 in a report on Tuesday, July 23rd. Sanford C. Bernstein raised their target price on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. TD Cowen reduced their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Seven analysts have rated the stock with a hold rating, seven 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 an average target price of $175.00.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated 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 sale, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Down 0.4 %

Shares of JNJ opened at $157.76 on Thursday. The firm has a market capitalization of $379.83 billion, a P/E 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 firm has a fifty day moving average price of $162.96 and a 200-day moving average price of $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 issued its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that Johnson & Johnson will post 9.94 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is 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.