Kennondale Capital Management LLC Purchases New Position in Johnson & Johnson (NYSE:JNJ)

Kennondale Capital Management LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 38,293 shares of the company’s stock, valued at approximately $5,538,000. Johnson & Johnson accounts for approximately 4.5% of Kennondale Capital Management LLC’s portfolio, making the stock its 4th largest position.

Other hedge funds have also modified their holdings of the company. IFS Advisors LLC raised its position in shares of Johnson & Johnson by 138.9% in the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Bay Harbor Wealth Management LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at approximately $32,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson during the 3rd quarter worth approximately $35,000. Activest Wealth Management acquired a new stake in Johnson & Johnson during the 3rd quarter worth approximately $40,000. Finally, NewSquare Capital LLC raised its holdings in Johnson & Johnson by 145.8% during the 4th quarter. NewSquare Capital LLC now owns 290 shares of the company’s stock worth $42,000 after buying an additional 172 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

NYSE:JNJ opened at $162.94 on Tuesday. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $155.37 and a 200 day simple moving average of $156.26. The stock has a market capitalization of $392.66 billion, a PE ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 0.47.

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

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $1.24 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.04%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insiders Place Their Bets

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on JNJ shares. Citigroup dropped their target price on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Leerink Partners dropped their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Raymond James dropped their target price on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Bank of America raised their price target on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

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.