Convergence Investment Partners LLC decreased its position in shares of Johnson & Johnson (NYSE:JNJ – Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,650 shares of the company’s stock after selling 262 shares during the quarter. Convergence Investment Partners LLC’s holdings in Johnson & Johnson were worth $1,031,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in JNJ. Nisa Investment Advisors LLC lifted its holdings in Johnson & Johnson by 0.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 748,842 shares of the company’s stock worth $116,071,000 after purchasing an additional 6,836 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Johnson & Johnson by 21.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 903,546 shares of the company’s stock worth $140,050,000 after purchasing an additional 161,687 shares in the last quarter. Scotia Capital Inc. lifted its holdings in Johnson & Johnson by 1.6% during the 4th quarter. Scotia Capital Inc. now owns 1,105,147 shares of the company’s stock worth $195,247,000 after purchasing an additional 17,440 shares in the last quarter. Wisconsin Capital Management LLC lifted its holdings in Johnson & Johnson by 0.8% during the 1st quarter. Wisconsin Capital Management LLC now owns 15,723 shares of the company’s stock worth $2,437,000 after purchasing an additional 127 shares in the last quarter. Finally, Boyar Asset Management Inc. raised its holdings in shares of Johnson & Johnson by 1.1% in the 1st quarter. Boyar Asset Management Inc. now owns 19,191 shares of the company’s stock valued at $2,975,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 67.57% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on JNJ. Raymond James raised their price target on Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Stifel Nicolaus raised their price target on Johnson & Johnson from $165.00 to $175.00 in a report on Friday, July 21st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $187.00 price target on shares of Johnson & Johnson in a report on Friday, July 21st. StockNews.com began coverage on Johnson & Johnson in a report on Thursday. They issued a “strong-buy” rating on the stock. Finally, Barclays raised their price target on Johnson & Johnson from $171.00 to $175.00 and gave the company an “equal weight” rating in a report on Monday, July 24th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $171.80.
Johnson & Johnson Price Performance
JNJ opened at $172.55 on Friday. The stock’s 50 day simple moving average is $166.30 and its 200 day simple moving average is $161.44. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.12 and a quick ratio of 0.88. Johnson & Johnson has a 1 year low of $150.11 and a 1 year high of $181.04. The firm has a market cap of $448.45 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 2.89 and a beta of 0.54.
Johnson & Johnson (NYSE:JNJ – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.18. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The business had revenue of $25.53 billion for the quarter, compared to analyst estimates of $24.63 billion. During the same period last year, the company earned $2.59 EPS. Johnson & Johnson’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that Johnson & Johnson will post 10.75 earnings per share for the current year.
Johnson & Johnson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Monday, August 28th will be given a $1.19 dividend. The ex-dividend date is Friday, August 25th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.76%. Johnson & Johnson’s dividend payout ratio is currently 96.36%.
Insider Transactions at Johnson & Johnson
In other news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the sale, the executive vice president now directly owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Kathryn E. Wengel sold 12,465 shares of Johnson & Johnson stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $160.00, for a total value of $1,994,400.00. Following the sale, the executive vice president now directly owns 65,934 shares in the company, valued at approximately $10,549,440. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Peter Fasolo sold 20,000 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $170.32, for a total value of $3,406,400.00. Following the completion of the sale, the vice president now owns 102,696 shares in the company, valued at $17,491,182.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,163 shares of company stock worth $7,928,856. 0.20% of the stock is currently owned by insiders.
Johnson & Johnson Company Profile
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.
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