Trade Report: Today, Wright Investors Service Inc. Boosts Stake in Johnson & Johnson (JNJ)

Today, Wright Investors Service Inc. Boosts Stake in Johnson & Johnson (JNJ)

Wright Investors Service Inc. boosted its position in Johnson & Johnson (NYSE:JNJ) by 59.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,830 shares of the company’s stock after buying an additional 1,050 shares during the period. Wright Investors Service Inc.’s holdings in Johnson & Johnson were worth $334,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. increased its stake in shares of Johnson & Johnson by 0.3% in the third quarter. Cullen Frost Bankers Inc. now owns 209,692 shares of the company’s stock worth $24,771,000 after buying an additional 612 shares in the last quarter. Round Table Services LLC increased its position in Johnson & Johnson by 2.6% in the third quarter. Round Table Services LLC now owns 4,442 shares of the company’s stock valued at $525,000 after buying an additional 111 shares during the period. Asset Advisors Corp increased its position in Johnson & Johnson by 0.5% in the third quarter. Asset Advisors Corp now owns 169,151 shares of the company’s stock valued at $19,982,000 after buying an additional 898 shares during the period. Delta Asset Management LLC TN increased its position in Johnson & Johnson by 1.8% in the third quarter. Delta Asset Management LLC TN now owns 24,958 shares of the company’s stock valued at $2,948,000 after buying an additional 437 shares during the period. Finally, Beese Fulmer Investment Management Inc. increased its position in Johnson & Johnson by 3.2% in the third quarter. Beese Fulmer Investment Management Inc. now owns 96,757 shares of the company’s stock valued at $11,431,000 after buying an additional 3,034 shares during the period. Institutional investors own 65.19% of the company’s stock.

Johnson & Johnson (NYSE:JNJ) traded up 0.94% on Friday, reaching $114.13. The company’s stock had a trading volume of 3,433,340 shares. Johnson & Johnson has a 52-week low of $94.28 and a 52-week high of $126.07. The stock has a market cap of $310.49 billion, a price-to-earnings ratio of 20.03 and a beta of 0.75. The firm’s 50-day moving average price is $116.14 and its 200-day moving average price is $118.35.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 18th. The company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. Johnson & Johnson had a return on equity of 25.30% and a net margin of 22.03%. The firm earned $17.80 billion during the quarter, compared to analysts’ expectations of $17.71 billion. During the same period in the prior year, the company earned $1.49 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Johnson & Johnson will post $6.72 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 22nd will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.80%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, November 18th. Johnson & Johnson’s dividend payout ratio is presently 56.64%.

Several equities analysts recently commented on JNJ shares. Vetr upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and set a $124.21 target price for the company in a research report on Monday, August 22nd. RBC Capital Markets set a $133.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research report on Wednesday, November 9th. Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Argus restated a “buy” rating and set a $145.00 target price on shares of Johnson & Johnson in a research report on Friday, October 21st. Finally, BTIG Research restated a “neutral” rating on shares of Johnson & Johnson in a research report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $120.79.

In other news, Director Charles Prince purchased 875 shares of the company’s stock in a transaction dated Friday, October 21st. The stock was bought at an average cost of $114.11 per share, for a total transaction of $99,846.25. Following the purchase, the director now owns 26,520 shares of the company’s stock, valued at $3,026,197.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

Johnson & Johnson Company Profile

Johnson & Johnson is a holding company, which is engaged in the research and development, manufacture and sale of a range of products in the healthcare field. The Company’s segments include Consumer, Pharmaceutical and Medical Devices. The Consumer segment includes a range of products used in the baby care, oral care, skin care, over-the-counter pharmaceutical, women’s health and wound care markets.

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