Destination Wealth Management Grows Holdings in Johnson & Johnson (JNJ)

Destination Wealth Management raised its stake in Johnson & Johnson (NYSE:JNJ) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,398 shares of the company’s stock after purchasing an additional 4,485 shares during the period. Johnson & Johnson accounts for approximately 1.5% of Destination Wealth Management’s investment portfolio, making the stock its 21st biggest position. Destination Wealth Management’s holdings in Johnson & Johnson were worth $24,802,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in JNJ. Raymond James Financial Services Advisors Inc. boosted its position in shares of Johnson & Johnson by 3.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,123,184 shares of the company’s stock valued at $136,289,000 after acquiring an additional 38,285 shares during the period. Narwhal Capital Management boosted its position in shares of Johnson & Johnson by 2.5% in the second quarter. Narwhal Capital Management now owns 40,917 shares of the company’s stock valued at $4,965,000 after acquiring an additional 1,010 shares during the period. Eagle Global Advisors LLC boosted its position in shares of Johnson & Johnson by 1.6% in the first quarter. Eagle Global Advisors LLC now owns 77,460 shares of the company’s stock valued at $9,927,000 after acquiring an additional 1,221 shares during the period. Wealth Alliance Advisory Group LLC boosted its position in shares of Johnson & Johnson by 9.5% in the second quarter. Wealth Alliance Advisory Group LLC now owns 11,274 shares of the company’s stock valued at $1,368,000 after acquiring an additional 981 shares during the period. Finally, Chilton Capital Management LLC boosted its position in shares of Johnson & Johnson by 23.6% in the first quarter. Chilton Capital Management LLC now owns 95,055 shares of the company’s stock valued at $12,181,000 after acquiring an additional 18,122 shares during the period. Hedge funds and other institutional investors own 66.60% of the company’s stock.

In related news, CAO Ronald A. Kapusta sold 7,899 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $137.18, for a total transaction of $1,083,584.82. Following the completion of the sale, the chief accounting officer now owns 25,725 shares of the company’s stock, valued at $3,528,955.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joaquin Duato sold 40,000 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $144.36, for a total transaction of $5,774,400.00. Following the sale, the insider now directly owns 112,848 shares of the company’s stock, valued at approximately $16,290,737.28. The disclosure for this sale can be found here. Insiders have sold 85,340 shares of company stock valued at $11,992,396 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

JNJ opened at $145.34 on Friday. Johnson & Johnson has a twelve month low of $118.62 and a twelve month high of $148.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.72 and a quick ratio of 1.40. The stock has a market cap of $382.50 billion, a P/E ratio of 19.91, a PEG ratio of 2.23 and a beta of 0.58.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data on Tuesday, October 16th. The company reported $2.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.02. Johnson & Johnson had a net margin of 1.89% and a return on equity of 34.62%. The business had revenue of $20.35 billion during the quarter, compared to analysts’ expectations of $20.05 billion. During the same quarter in the prior year, the business posted $1.90 earnings per share. Johnson & Johnson’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 8.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Tuesday, November 27th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $3.60 annualized dividend and a yield of 2.48%. Johnson & Johnson’s dividend payout ratio is 49.32%.

A number of equities research analysts have recently issued reports on JNJ shares. Credit Suisse Group set a $151.00 target price on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Friday, July 13th. Jefferies Financial Group set a $145.00 target price on shares of Johnson & Johnson and gave the company a “buy” rating in a research report on Sunday, July 15th. ValuEngine raised shares of Johnson & Johnson from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Wells Fargo & Co reissued an “outperform” rating and issued a $160.00 target price on shares of Johnson & Johnson in a research report on Friday, September 14th. Finally, HC Wainwright reissued a “buy” rating on shares of Johnson & Johnson in a research report on Wednesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $142.54.

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

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