Wall Street Access Asset Management LLC Purchases New Position in Johnson & Johnson (NYSE:JNJ)

Wall Street Access Asset Management LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,538 shares of the company’s stock, valued at approximately $910,000. Johnson & Johnson accounts for 1.1% of Wall Street Access Asset Management LLC’s investment portfolio, making the stock its 20th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Krane Funds Advisors LLC purchased a new stake in Johnson & Johnson during the second quarter worth $26,000. Crewe Advisors LLC increased its position in shares of Johnson & Johnson by 725.9% during the second quarter. Crewe Advisors LLC now owns 223 shares of the company’s stock worth $31,000 after purchasing an additional 196 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new position in shares of Johnson & Johnson during the fourth quarter worth $40,000. Permanens Capital L.P. increased its position in shares of Johnson & Johnson by 50.0% during the second quarter. Permanens Capital L.P. now owns 300 shares of the company’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. Finally, Thor Advisors LLC acquired a new position in shares of Johnson & Johnson during the first quarter worth $69,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Shares of JNJ stock traded up $0.35 during trading hours on Friday, reaching $130.78. 4,487,923 shares of the company’s stock were exchanged, compared to its average volume of 7,524,661. The company has a current ratio of 1.33, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $130.14 and its 200-day moving average is $135.94. Johnson & Johnson has a fifty-two week low of $121.00 and a fifty-two week high of $148.99. The company has a market cap of $344.23 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 2.21 and a beta of 0.68.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, July 16th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.16. Johnson & Johnson had a return on equity of 38.63% and a net margin of 20.08%. The firm had revenue of $20.56 billion for the quarter, compared to the consensus estimate of $20.39 billion. During the same period in the prior year, the firm earned $2.10 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. Equities analysts anticipate that Johnson & Johnson will post 8.6 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Monday, August 26th. Johnson & Johnson’s payout ratio is 46.45%.

A number of brokerages have recently issued reports on JNJ. Royal Bank of Canada reaffirmed a “buy” rating on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Barclays began coverage on Johnson & Johnson in a research report on Friday, June 21st. They set a “hold” rating and a $140.00 price target on the stock. Bank of America reaffirmed a “hold” rating and set a $150.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 16th. Credit Suisse Group set a $156.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Finally, Goldman Sachs Group set a $169.00 price target on Johnson & Johnson and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $150.60.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

Further Reading: Diluted Earnings Per Share

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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