Belpointe Asset Management LLC lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 19.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,000 shares of the company’s stock after acquiring an additional 1,449 shares during the quarter. Belpointe Asset Management LLC’s holdings in Johnson & Johnson were worth $1,092,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of JNJ. Financial Gravity Wealth Inc. purchased a new stake in Johnson & Johnson in the first quarter worth $105,000. WP Advisors LLC purchased a new stake in Johnson & Johnson in the second quarter worth $108,000. FNY Investment Advisers LLC purchased a new stake in Johnson & Johnson in the second quarter worth $117,000. Fusion Family Wealth LLC increased its position in Johnson & Johnson by 621.4% in the second quarter. Fusion Family Wealth LLC now owns 1,010 shares of the company’s stock worth $123,000 after buying an additional 870 shares during the last quarter. Finally, Live Your Vision LLC increased its position in Johnson & Johnson by 58.3% in the second quarter. Live Your Vision LLC now owns 1,363 shares of the company’s stock worth $172,000 after buying an additional 502 shares during the last quarter. 66.06% of the stock is owned by institutional investors.
In other news, EVP Michael E. Sneed sold 30,943 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $142.46, for a total value of $4,408,139.78. Following the completion of the transaction, the executive vice president now directly owns 70,817 shares of the company’s stock, valued at $10,088,589.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alex Gorsky sold 264,465 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $145.96, for a total value of $38,601,311.40. Following the completion of the transaction, the chief executive officer now directly owns 481,254 shares of the company’s stock, valued at $70,243,833.84. The disclosure for this sale can be found here. Insiders sold 351,748 shares of company stock valued at $51,092,647 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.
Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 16th. The company reported $2.05 EPS for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a return on equity of 34.62% and a net margin of 1.89%. The firm had revenue of $20.35 billion during the quarter, compared to analyst estimates of $20.05 billion. During the same period last year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts anticipate that Johnson & Johnson will post 8.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 11th. Stockholders of record on Tuesday, November 27th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, November 26th. Johnson & Johnson’s payout ratio is currently 49.32%.
A number of research firms have issued reports on JNJ. Credit Suisse Group set a $149.00 target price on Johnson & Johnson and gave the stock a “buy” rating in a research report on Sunday, October 14th. Raymond James raised their target price on Johnson & Johnson from $144.00 to $149.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. HC Wainwright reissued a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Citigroup raised their target price on Johnson & Johnson from $137.00 to $148.00 and gave the stock a “neutral” rating in a research report on Monday, October 22nd. Finally, Zacks Investment Research downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $143.47.
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Johnson & Johnson Profile
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. Its 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, RoC, 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.
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