Allen Capital Group LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Allen Capital Group LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 20,573 shares of the company’s stock after buying an additional 1,190 shares during the quarter. Allen Capital Group LLC’s holdings in Johnson & Johnson were worth $3,334,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Asset Management Group Inc. increased its stake in shares of Johnson & Johnson by 0.7% during the third quarter. Asset Management Group Inc. now owns 17,412 shares of the company’s stock worth $2,822,000 after buying an additional 115 shares during the period. Biltmore Family Office LLC increased its stake in shares of Johnson & Johnson by 6.4% during the third quarter. Biltmore Family Office LLC now owns 17,180 shares of the company’s stock worth $2,784,000 after buying an additional 1,034 shares during the period. Raymond James Trust N.A. increased its stake in shares of Johnson & Johnson by 4.1% during the third quarter. Raymond James Trust N.A. now owns 226,343 shares of the company’s stock worth $36,681,000 after buying an additional 8,849 shares during the period. Concorde Asset Management LLC increased its stake in shares of Johnson & Johnson by 2.5% during the third quarter. Concorde Asset Management LLC now owns 5,010 shares of the company’s stock worth $812,000 after buying an additional 124 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in shares of Johnson & Johnson by 22.1% during the third quarter. Eagle Asset Management Inc. now owns 57,612 shares of the company’s stock worth $8,957,000 after buying an additional 10,439 shares during the period. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Royal Bank of Canada increased their price target on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Citigroup increased their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $155.79 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a fifty day moving average price of $160.41 and a 200 day moving average price of $156.17. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a market cap of $375.08 billion, a PE ratio of 22.55, a P/E/G ratio of 2.72 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the company earned $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 71.78%.

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.