New England Asset Management Inc. Has $10.21 Million Stake in Johnson & Johnson (NYSE:JNJ)

New England Asset Management Inc. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,989 shares of the company’s stock after purchasing an additional 11,845 shares during the quarter. Johnson & Johnson accounts for 1.6% of New England Asset Management Inc.’s holdings, making the stock its 12th largest position. New England Asset Management Inc.’s holdings in Johnson & Johnson were worth $10,208,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson in the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC raised its holdings in shares of Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Johnson & Johnson during the 2nd quarter worth $43,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $154.77 on Tuesday. The firm’s fifty day simple moving average is $161.11 and its two-hundred day simple moving average is $156.16. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $372.63 billion, a P/E ratio of 22.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, beating the consensus estimate of $2.21 by $0.21. The company had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.66 EPS. As a group, analysts predict that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s payout ratio is presently 71.78%.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The trade was a 22.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. Guggenheim increased their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.94.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.