Financial Gravity Companies Inc. Invests $2.19 Million in Johnson & Johnson $JNJ

Financial Gravity Companies Inc. bought a new stake in Johnson & Johnson (NYSE:JNJ) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 14,342 shares of the company’s stock, valued at approximately $2,191,000.

Other institutional investors also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new stake in Johnson & Johnson in the second quarter worth about $35,000. Stone House Investment Management LLC acquired a new position in Johnson & Johnson during the 1st quarter valued at about $47,000. 1248 Management LLC bought a new stake in shares of Johnson & Johnson during the 1st quarter worth about $48,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. Finally, Pandora Wealth Inc. bought a new position in shares of Johnson & Johnson in the first quarter valued at approximately $65,000. Institutional investors and hedge funds own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson 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 transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Stifel Nicolaus upped their price objective on Johnson & Johnson from $165.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Erste Group Bank raised Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 23rd. Loop Capital set a $190.00 price target on shares of Johnson & Johnson in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the company an “overweight” rating in a report on Friday, October 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.05.

Johnson & Johnson Trading Up 0.4%

NYSE:JNJ opened at $196.00 on Friday. The stock has a fifty day simple moving average of $185.81 and a 200 day simple moving average of $170.04. The firm has a market capitalization of $472.22 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $197.18. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. The company had revenue of $24.02 billion during the quarter. Sell-side analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.7%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

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.