Lorne Steinberg Wealth Management Inc. Acquires 4,170 Shares of Johnson & Johnson $JNJ

Lorne Steinberg Wealth Management Inc. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 13.1% in the second quarter, Holdings Channel.com reports. The fund owned 36,006 shares of the company’s stock after purchasing an additional 4,170 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Johnson & Johnson were worth $5,500,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GFG Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth about $35,000. Stone House Investment Management LLC bought a new position in shares of Johnson & Johnson during the 1st quarter worth about $47,000. 1248 Management LLC acquired a new stake in shares of Johnson & Johnson during the 1st quarter worth about $48,000. von Borstel & Associates Inc. acquired a new stake in shares of Johnson & Johnson during the 1st quarter worth about $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson during the 1st quarter worth about $52,000. 69.55% of the stock is owned by institutional investors.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares in the company, valued at $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Trading Down 0.9%

JNJ opened at $191.93 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $462.23 billion, a PE ratio of 18.53, a PEG ratio of 2.28 and a beta of 0.40. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $194.48. The firm has a 50-day moving average price of $181.27 and a two-hundred day moving average price of $165.37.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The firm had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. As a group, equities analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. UBS Group increased their target price on shares of Johnson & Johnson from $190.00 to $214.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Guggenheim upgraded shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their target price for the stock from $167.00 to $206.00 in a research report on Tuesday, September 23rd. Finally, Daiwa Capital Markets upgraded shares of Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 target price for the company in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target of $200.06.

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.