Wellspring Financial Advisors LLC Raises Stock Holdings in Johnson & Johnson $JNJ

Wellspring Financial Advisors LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,617 shares of the company’s stock after buying an additional 283 shares during the quarter. Wellspring Financial Advisors LLC’s holdings in Johnson & Johnson were worth $2,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Johnson & Johnson by 1.3% during the second quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock valued at $36,209,060,000 after purchasing an additional 3,085,180 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Johnson & Johnson by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock valued at $9,227,988,000 after purchasing an additional 1,225,676 shares during the period. Norges Bank purchased a new position in shares of Johnson & Johnson during the 2nd quarter valued at $4,877,174,000. Northern Trust Corp boosted its holdings in Johnson & Johnson by 0.4% in the 1st quarter. Northern Trust Corp now owns 30,943,820 shares of the company’s stock worth $5,131,723,000 after buying an additional 130,645 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Johnson & Johnson by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 23,802,503 shares of the company’s stock worth $3,635,832,000 after buying an additional 620,039 shares during the period. 69.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Argus set a $210.00 price objective on Johnson & Johnson in a research report on Wednesday, October 15th. Bank of America boosted their price target on Johnson & Johnson from $198.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Johnson Rice set a $190.00 price objective on shares of Johnson & Johnson and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Finally, Daiwa America upgraded shares of Johnson & Johnson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.10.

Johnson & Johnson Stock Down 0.7%

Shares of JNJ opened at $205.49 on Tuesday. The business’s 50 day simple moving average is $191.96 and its 200-day simple moving average is $174.12. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $207.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $495.07 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share 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 for the quarter. As a group, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 25th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.5%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total value of $10,041,108.51. Following the completion of the transaction, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.