Cullinan Associates Inc. Boosts Stake in Johnson & Johnson (NYSE:JNJ)

Cullinan Associates Inc. boosted its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,970 shares of the company’s stock after acquiring an additional 8,479 shares during the quarter. Johnson & Johnson accounts for about 2.1% of Cullinan Associates Inc.’s investment portfolio, making the stock its 8th biggest position. Cullinan Associates Inc.’s holdings in Johnson & Johnson were worth $34,609,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Family CFO Inc acquired a new stake in Johnson & Johnson in the fourth quarter worth $26,000. RE Dickinson Investment Advisors LLC grew its position in Johnson & Johnson by 163.3% in the first quarter. RE Dickinson Investment Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Advanced Research Investment Solutions LLC grew its position in Johnson & Johnson by 200.0% in the first quarter. Advanced Research Investment Solutions LLC now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 120 shares in the last quarter. Professional Financial Advisors LLC lifted its stake in Johnson & Johnson by 47.9% in the first quarter. Professional Financial Advisors LLC now owns 210 shares of the company’s stock valued at $37,000 after acquiring an additional 68 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new stake in Johnson & Johnson in the first quarter valued at $38,000. 68.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on JNJ shares. UBS Group dropped their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a research note on Thursday, July 21st. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, July 13th. Morgan Stanley reduced their target price on shares of Johnson & Johnson from $174.00 to $173.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Citigroup dropped their price target on shares of Johnson & Johnson from $205.00 to $201.00 in a research report on Wednesday, July 20th. Finally, Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a research report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $189.78.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $167.60 on Monday. 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 1.17. The firm has a market cap of $440.65 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 2.99 and a beta of 0.61. The company has a fifty day moving average price of $168.96 and a 200-day moving average price of $174.29.

Johnson & Johnson (NYSE:JNJGet Rating) last posted its earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.14%. The firm had revenue of $24.02 billion during the quarter, compared to analyst estimates of $23.85 billion. During the same quarter in the prior year, the business posted $2.48 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Johnson & Johnson will post 10.7 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were given a dividend of $1.13 per share. The ex-dividend date was Monday, August 22nd. This represents a $4.52 annualized dividend and a yield of 2.70%. Johnson & Johnson’s payout ratio is currently 65.79%.

Johnson & Johnson announced that its board has approved a stock buyback plan on Wednesday, September 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 1.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

About Johnson & Johnson

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

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