Summitry LLC Increases Stake in Johnson & Johnson $JNJ

Summitry LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,003 shares of the company’s stock after purchasing an additional 3,853 shares during the period. Summitry LLC’s holdings in Johnson & Johnson were worth $9,457,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC bought a new position in shares of Johnson & Johnson during the third quarter valued at approximately $26,000. Evolution Wealth Management Inc. purchased a new position in Johnson & Johnson during the 2nd quarter valued at $27,000. Clayton Financial Group LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at $28,000. Semmax Financial Advisors Inc. increased its stake in Johnson & Johnson by 55.0% in the second quarter. Semmax Financial Advisors Inc. now owns 203 shares of the company’s stock worth $31,000 after purchasing an additional 72 shares during the period. Finally, Compass Financial Services Inc lifted its position in shares of Johnson & Johnson by 707.1% during the third quarter. Compass Financial Services Inc now owns 226 shares of the company’s stock worth $42,000 after purchasing an additional 198 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JNJ has been the topic of several recent analyst reports. Citigroup raised their price target on shares of Johnson & Johnson from $232.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Bank of America raised their target price on shares of Johnson & Johnson from $220.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Scotiabank reiterated an “outperform” rating on shares of Johnson & Johnson in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and set a $250.00 price objective on shares of Johnson & Johnson in a report on Thursday, January 22nd. Finally, Wolfe Research upped their target price on Johnson & Johnson from $225.00 to $240.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $233.73.

Johnson & Johnson Stock Down 0.5%

Johnson & Johnson stock opened at $243.37 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. The firm has a market cap of $586.51 billion, a P/E ratio of 22.02, a P/E/G ratio of 2.36 and a beta of 0.35. The business has a fifty day moving average of $217.25 and a two-hundred day moving average of $196.79. Johnson & Johnson has a twelve month low of $141.50 and a twelve month high of $246.35.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Saturday, January 31st. The company reported $2.46 EPS for the quarter. The firm had revenue of $24.28 billion during the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%. On average, analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio is presently 47.06%.

Johnson & Johnson News Roundup

Here are the key news stories impacting Johnson & Johnson this week:

• Positive Sentiment: Jim Cramer publicly praised J&J on-air, calling the company “amazing,” which can boost retail investor interest and provide short-term support for the stock. Johnson & Johnson (JNJ) Is Amazing, Says Jim Cramer
• Neutral Sentiment: Wall Street Zen cut JNJ to a Hold, signaling reduced upside conviction from at least one boutique research provider; that can temper buying enthusiasm but is not a major institutional downgrade. Johnson & Johnson (NYSE:JNJ) Cut to Hold at Wall Street Zen
• Negative Sentiment: A Pennsylvania jury found J&J liable in a talc/ovarian-cancer case and ordered $250,000 in damages to the family of Gayle Emerson — a reminder that ongoing talc litigation continues to create legal costs, uncertainty and headline risk for the company. Jury: Johnson & Johnson Liable in Case Linking Baby Powder to Cancer

Johnson & Johnson Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.