Tower Wealth Partners Inc. Purchases 382 Shares of Johnson & Johnson (NYSE:JNJ)

Tower Wealth Partners Inc. grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 15.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,866 shares of the company’s stock after purchasing an additional 382 shares during the quarter. Tower Wealth Partners Inc.’s holdings in Johnson & Johnson were worth $419,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Johnson & Johnson in the 2nd quarter worth approximately $1,082,000. Plancorp LLC lifted its position in shares of Johnson & Johnson by 5.6% during the second quarter. Plancorp LLC now owns 15,121 shares of the company’s stock worth $2,210,000 after acquiring an additional 804 shares in the last quarter. Madison Wealth Partners Inc boosted its holdings in shares of Johnson & Johnson by 7.1% in the second quarter. Madison Wealth Partners Inc now owns 2,474 shares of the company’s stock worth $362,000 after acquiring an additional 165 shares during the period. Sargent Investment Group LLC grew its position in shares of Johnson & Johnson by 2.0% in the second quarter. Sargent Investment Group LLC now owns 21,779 shares of the company’s stock valued at $3,183,000 after purchasing an additional 436 shares in the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Johnson & Johnson by 132.9% during the 2nd quarter. Edgestream Partners L.P. now owns 71,787 shares of the company’s stock valued at $10,492,000 after purchasing an additional 40,966 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.9 %

Shares of NYSE:JNJ opened at $167.02 on Tuesday. The firm has a fifty day moving average of $159.98 and a 200 day moving average of $153.98. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07. The firm has a market capitalization of $401.96 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.80 EPS. As a group, research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were issued a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.97%. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. Morgan Stanley raised their price objective on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. TD Securities lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. TD Cowen cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Daiwa America cut shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.