Johnson & Johnson $JNJ Position Raised by Cypress Capital Group

Cypress Capital Group boosted its holdings in Johnson & Johnson (NYSE:JNJ) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 73,889 shares of the company’s stock after buying an additional 1,366 shares during the quarter. Johnson & Johnson accounts for about 1.4% of Cypress Capital Group’s investment portfolio, making the stock its 19th largest position. Cypress Capital Group’s holdings in Johnson & Johnson were worth $11,287,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new position in Johnson & Johnson in the second quarter worth approximately $35,000. Highline Wealth Partners LLC grew its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after purchasing an additional 86 shares in the last quarter. Stone House Investment Management LLC purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $47,000. 1248 Management LLC purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $48,000. Finally, von Borstel & Associates Inc. purchased a new position in Johnson & Johnson during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 16th. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. HSBC lifted their price objective on shares of Johnson & Johnson from $188.00 to $210.00 in a research report on Tuesday, September 30th. Bank of America lifted their target price on shares of Johnson & Johnson from $175.00 to $198.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Cowen reissued a “buy” rating on shares of Johnson & Johnson in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $193.88.

Johnson & Johnson Trading Down 0.0%

Shares of NYSE:JNJ opened at $190.88 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $194.40. The firm has a fifty day moving average of $179.28 and a two-hundred day moving average of $164.16. The firm has a market capitalization of $459.70 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The business had revenue of $24.02 billion during the quarter. On average, equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 55.61%.

Insider Activity

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.