Cascade Investment Group Inc. Grows Stock Position in Johnson & Johnson $JNJ

Cascade Investment Group Inc. raised its holdings in Johnson & Johnson (NYSE:JNJ) by 56.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,085 shares of the company’s stock after acquiring an additional 1,468 shares during the quarter. Cascade Investment Group Inc.’s holdings in Johnson & Johnson were worth $624,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JNJ. Horizon Bancorp Inc. IN increased its holdings in Johnson & Johnson by 11.2% during the 2nd quarter. Horizon Bancorp Inc. IN now owns 636 shares of the company’s stock worth $97,000 after purchasing an additional 64 shares during the period. Global Strategic Investment Solutions LLC boosted its position in shares of Johnson & Johnson by 3.5% during the 2nd quarter. Global Strategic Investment Solutions LLC now owns 1,925 shares of the company’s stock worth $294,000 after acquiring an additional 65 shares in the last quarter. JSF Financial LLC boosted its position in shares of Johnson & Johnson by 2.2% during the 2nd quarter. JSF Financial LLC now owns 2,993 shares of the company’s stock worth $457,000 after acquiring an additional 65 shares in the last quarter. Elios Financial Group Inc. boosted its position in shares of Johnson & Johnson by 1.5% during the 1st quarter. Elios Financial Group Inc. now owns 4,496 shares of the company’s stock worth $746,000 after acquiring an additional 66 shares in the last quarter. Finally, Atlantic Family Wealth LLC boosted its position in shares of Johnson & Johnson by 4.4% during the 1st quarter. Atlantic Family Wealth LLC now owns 1,603 shares of the company’s stock worth $266,000 after acquiring an additional 67 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $190.66 on Monday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $192.10. The company has a market capitalization of $459.16 billion, a P/E ratio of 20.39, a PEG ratio of 2.40 and a beta of 0.40. The business has a 50 day moving average price of $178.48 and a 200 day moving average price of $163.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.01 and a quick ratio of 0.76.

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

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, August 26th. This represents a $5.20 annualized dividend and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio (DPR) is 55.61%.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Weiss Ratings raised Johnson & Johnson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and issued a $209.00 target price on shares of Johnson & Johnson in a research report on Friday. Finally, UBS Group set a $198.00 target price on Johnson & Johnson in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.94.

Johnson & Johnson Company Profile

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.