Overbrook Management Corp Buys 212 Shares of Johnson & Johnson (NYSE:JNJ)

Overbrook Management Corp increased its stake in Johnson & Johnson (NYSE:JNJ) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,455 shares of the company’s stock after acquiring an additional 212 shares during the period. Overbrook Management Corp’s holdings in Johnson & Johnson were worth $1,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cornerstone Advisors LLC raised its position in Johnson & Johnson by 4.7% during the 3rd quarter. Cornerstone Advisors LLC now owns 120,102 shares of the company’s stock valued at $19,464,000 after purchasing an additional 5,400 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Johnson & Johnson by 3.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 19,121 shares of the company’s stock worth $3,099,000 after buying an additional 725 shares during the last quarter. Altman Advisors Inc. purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $1,574,000. Darwin Wealth Management LLC purchased a new stake in Johnson & Johnson during the 3rd quarter valued at $492,000. Finally, Cedar Wealth Management LLC boosted its stake in Johnson & Johnson by 31.3% during the 3rd quarter. Cedar Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $410,000 after purchasing an additional 602 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Citigroup increased their price target on Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Guggenheim raised their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Wolfe Research began coverage on Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $175.94.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $153.10 on Thursday. The company has a fifty day simple moving average of $160.59 and a two-hundred day simple moving average of $156.17. The company has a market cap of $368.59 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.66 earnings per share. As a group, equities analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.24%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

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.