Johnson & Johnson (JNJ) Position Boosted by Meridian Wealth Management LLC
Meridian Wealth Management LLC boosted its position in shares of Johnson & Johnson (NYSE:JNJ) by 201.8% during the first quarter, Holdings Channel reports. The firm owned 12,492 shares of the company’s stock after buying an additional 8,353 shares during the period. Johnson & Johnson accounts for about 0.9% of Meridian Wealth Management LLC’s holdings, making the stock its 24th largest position. Meridian Wealth Management LLC’s holdings in Johnson & Johnson were worth $1,556,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. raised its position in Johnson & Johnson by 0.7% in the first quarter. Lenox Wealth Advisors Inc. now owns 871 shares of the company’s stock worth $108,000 after buying an additional 6 shares during the period. Thomas J. Herzfeld Advisors Inc. purchased a new position in Johnson & Johnson during the fourth quarter worth approximately $117,000. Harel Insurance Investments & Financial Services Ltd. raised its position in Johnson & Johnson by 241.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,190 shares of the company’s stock worth $149,000 after buying an additional 841 shares during the period. Taylor Wealth Management Partners raised its position in Johnson & Johnson by 19.8% in the first quarter. Taylor Wealth Management Partners now owns 1,510 shares of the company’s stock worth $188,000 after buying an additional 250 shares during the period. Finally, Foundation Resource Management Inc. purchased a new position in Johnson & Johnson during the first quarter worth approximately $204,000. Hedge funds and other institutional investors own 66.10% of the company’s stock.
Shares of Johnson & Johnson (JNJ) traded up 0.1905% during trading on Monday, hitting $133.3536. 790,449 shares of the stock traded hands. The stock has a market cap of $357.92 billion, a PE ratio of 22.5641 and a beta of 0.78. The firm’s 50-day moving average price is $133.09 and its 200-day moving average price is $126.30. Johnson & Johnson has a 12 month low of $109.32 and a 12 month high of $137.08.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, July 18th. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.79 by $0.04. Johnson & Johnson had a net margin of 22.52% and a return on equity of 26.76%. The business had revenue of $18.84 billion during the quarter, compared to analyst estimates of $18.94 billion. During the same quarter in the previous year, the business posted $1.74 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts anticipate that Johnson & Johnson will post $7.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 29th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, August 25th. This represents a $3.36 annualized dividend and a dividend yield of 2.52%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 56.76%.
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A number of research firms have recently commented on JNJ. Credit Suisse Group restated a “buy” rating on shares of Johnson & Johnson in a research report on Friday, August 4th. Vetr lowered shares of Johnson & Johnson from a “buy” rating to a “hold” rating and set a $128.90 price target for the company. in a research report on Monday, May 8th. Alembic Global Advisors lowered shares of Johnson & Johnson from a “neutral” rating to an “underweight” rating in a research report on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and set a $135.00 price target (up from $132.00) on shares of Johnson & Johnson in a research report on Thursday, July 6th. Finally, UBS AG restated a “buy” rating and set a $136.00 price target on shares of Johnson & Johnson in a research report on Monday, May 15th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $133.72.
In related news, VP Paulus Stoffels sold 102,692 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $133.14, for a total transaction of $13,672,412.88. Following the completion of the transaction, the vice president now owns 230,342 shares in the company, valued at approximately $30,667,733.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Dominic J. Caruso sold 82,591 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $136.72, for a total transaction of $11,291,841.52. Following the transaction, the vice president now owns 226,693 shares of the company’s stock, valued at approximately $30,993,466.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.
About Johnson & Johnson
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. It operates through three segments: Consumer, Pharmaceutical and Medical Devices. Its primary focus is products related to human health and well-being.
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