SlateStone Wealth LLC Has $4.03 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

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SlateStone Wealth LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 164.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,743 shares of the company’s stock after purchasing an additional 14,142 shares during the period. Johnson & Johnson makes up 0.9% of SlateStone Wealth LLC’s investment portfolio, making the stock its 23rd biggest holding. SlateStone Wealth LLC’s holdings in Johnson & Johnson were worth $4,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in JNJ. Magnolia Capital Management Ltd. grew its position in shares of Johnson & Johnson by 0.5% during the 1st quarter. Magnolia Capital Management Ltd. now owns 11,162 shares of the company’s stock valued at $1,978,000 after acquiring an additional 55 shares during the period. Howard Financial Services LTD. grew its position in shares of Johnson & Johnson by 2.1% during the 1st quarter. Howard Financial Services LTD. now owns 2,757 shares of the company’s stock valued at $489,000 after acquiring an additional 57 shares during the period. American Financial Advisors LLC grew its position in shares of Johnson & Johnson by 2.1% during the 1st quarter. American Financial Advisors LLC now owns 2,715 shares of the company’s stock valued at $481,000 after acquiring an additional 57 shares during the period. Capital Investment Counsel Inc grew its position in shares of Johnson & Johnson by 0.8% during the 4th quarter. Capital Investment Counsel Inc now owns 7,796 shares of the company’s stock valued at $1,334,000 after acquiring an additional 59 shares during the period. Finally, Kwmg LLC grew its position in shares of Johnson & Johnson by 2.6% during the 1st quarter. Kwmg LLC now owns 2,354 shares of the company’s stock valued at $417,000 after acquiring an additional 59 shares during the period. Institutional investors and hedge funds own 68.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JNJ. Credit Suisse Group raised their price objective on shares of Johnson & Johnson from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $173.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, July 8th. Wells Fargo & Company raised their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Daiwa Capital Markets began coverage on shares of Johnson & Johnson in a report on Wednesday, June 22nd. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Johnson & Johnson from $163.00 to $181.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.89.

Insider Activity

In other news, EVP Kathryn E. Wengel sold 40,000 shares of the firm’s stock in a transaction on Friday, June 10th. The shares were sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the sale, the executive vice president now owns 71,311 shares in the company, valued at approximately $12,336,803. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Robert J. Decker sold 8,462 shares of Johnson & Johnson stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the transaction, the chief accounting officer now owns 15,473 shares in the company, valued at approximately $2,785,140. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of Johnson & Johnson stock in a transaction on Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the transaction, the executive vice president now owns 71,311 shares in the company, valued at approximately $12,336,803. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $171.79 on Friday. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.14. The stock has a market capitalization of $451.67 billion, a PE ratio of 25.01, a P/E/G ratio of 3.29 and a beta of 0.59. The company’s 50 day simple moving average is $175.41 and its two-hundred day simple moving average is $174.52.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.02. The firm had revenue of $24.02 billion for the quarter, compared to analysts’ expectations of $23.85 billion. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $2.48 EPS. Analysts predict that Johnson & Johnson will post 10.05 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, August 22nd. Johnson & Johnson’s dividend payout ratio (DPR) is currently 65.79%.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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