Pacific Global Investment Management Co. Raises Stock Position in Johnson & Johnson (NYSE:JNJ)

Pacific Global Investment Management Co. lifted its stake in Johnson & Johnson (NYSE:JNJ) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,986 shares of the company’s stock after acquiring an additional 802 shares during the quarter. Johnson & Johnson makes up approximately 2.0% of Pacific Global Investment Management Co.’s investment portfolio, making the stock its 7th largest position. Pacific Global Investment Management Co.’s holdings in Johnson & Johnson were worth $9,716,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of JNJ. Pathway Financial Advisors LLC lifted its stake in Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after purchasing an additional 226 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Johnson & Johnson by 5.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock valued at $46,685,000 after purchasing an additional 15,490 shares during the last quarter. OneAscent Financial Services LLC grew its holdings in shares of Johnson & Johnson by 82.8% during the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock worth $1,542,000 after purchasing an additional 4,457 shares during the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after buying an additional 2,201 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $1,458,000. 69.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the topic of a number of recent research reports. Royal Bank of Canada cut their price target on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Morgan Stanley dropped their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, May 6th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Johnson & Johnson Stock Up 0.3 %

NYSE JNJ traded up $0.43 on Thursday, reaching $153.10. The company had a trading volume of 576,713 shares, compared to its average volume of 7,311,040. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average is $152.49 and its 200 day moving average is $154.97. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $175.97. The stock has a market capitalization of $368.46 billion, a P/E ratio of 9.52, a P/E/G ratio of 2.49 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The company had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period last year, the firm earned $2.68 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Johnson & Johnson will post 10.64 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $1.24 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a yield of 3.24%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. Johnson & Johnson’s payout ratio is currently 29.68%.

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 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.