Joel Adams & Associates Inc. Takes Position in Johnson & Johnson (NYSE:JNJ)

Joel Adams & Associates Inc. purchased a new position in shares of Johnson & Johnson (NYSE:JNJ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,305 shares of the company’s stock, valued at approximately $333,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after acquiring an additional 3,437,397 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after purchasing an additional 2,356,359 shares during the period. Franklin Resources Inc. boosted its holdings in Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Holocene Advisors LP acquired a new position in Johnson & Johnson during the third quarter worth about $225,040,000. Finally, FMR LLC increased its holdings in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.7 %

JNJ stock opened at $162.35 on Friday. Johnson & Johnson has a one year low of $140.68 and a one year high of $168.85. The stock has a market capitalization of $390.87 billion, a P/E ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52. The company has a 50 day moving average price of $148.93 and a two-hundred day moving average price of $155.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. During the same period in the prior year, the firm posted $2.29 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insider Activity at Johnson & Johnson

In other news, Director Mark A. Weinberger bought 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JNJ shares. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday. Leerink Partners lowered their target price on Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Wolfe Research assumed coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Bank of America lowered their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company cut their target price on shares of Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.