Ballast Inc. boosted its position in shares of 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 institutional investor owned 14,076 shares of the company’s stock after purchasing an additional 458 shares during the period. Johnson & Johnson makes up 1.2% of Ballast Inc.’s portfolio, making the stock its 18th biggest position. Ballast Inc.’s holdings in Johnson & Johnson were worth $2,095,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JNJ. Lake Point Wealth Management grew its holdings in Johnson & Johnson by 144.4% during the 1st quarter. Lake Point Wealth Management now owns 286 shares of the company’s stock worth $38,000 after acquiring an additional 169 shares in the last quarter. Islay Capital Management LLC acquired a new position in Johnson & Johnson during the 2nd quarter worth $42,000. FAI Wealth Management grew its holdings in Johnson & Johnson by 45.9% during the 2nd quarter. FAI Wealth Management now owns 321 shares of the company’s stock worth $45,000 after acquiring an additional 101 shares in the last quarter. SeaBridge Investment Advisors LLC grew its holdings in Johnson & Johnson by 160.0% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 325 shares of the company’s stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Finally, HWG Holdings LP acquired a new position in Johnson & Johnson during the 2nd quarter worth $49,000. 67.44% of the stock is owned by institutional investors and hedge funds.
Shares of JNJ opened at $148.10 on Friday. The firm’s 50 day moving average is $148.57 and its 200-day moving average is $146.59. The stock has a market capitalization of $389.92 billion, a P/E ratio of 23.29, a P/E/G ratio of 3.36 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.25 and a quick ratio of 0.99. Johnson & Johnson has a 12-month low of $109.16 and a 12-month high of $157.00.
Johnson & Johnson (NYSE:JNJ) last released 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. The business had revenue of $21.08 billion for the quarter, compared to the consensus estimate of $20.15 billion. Johnson & Johnson had a net margin of 22.69% and a return on equity of 35.21%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. As a group, equities research analysts forecast that Johnson & Johnson will post 8 EPS for the current fiscal year.
Several brokerages have weighed in on JNJ. Citigroup raised their price objective on shares of Johnson & Johnson from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 17th. SVB Leerink reiterated an “outperform” rating on shares of Johnson & Johnson in a research report on Wednesday, July 15th. Cantor Fitzgerald raised their target price on shares of Johnson & Johnson from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday. ValuEngine raised shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Independent Research raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and raised their target price for the company from $161.00 to $164.00 in a research note on Monday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $164.93.
In other news, EVP Kathryn E. Wengel sold 16,115 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $153.52, for a total value of $2,473,974.80. Following the transaction, the executive vice president now directly owns 66,658 shares of the company’s stock, valued at $10,233,336.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Ashley Mcevoy sold 29,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total transaction of $4,276,630.00. Following the completion of the transaction, the executive vice president now directly owns 21,682 shares in the company, valued at $3,197,444.54. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.
About Johnson & Johnson
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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