Summitry LLC Raises Position in Johnson & Johnson $JNJ

Summitry LLC grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,003 shares of the company’s stock after acquiring an additional 3,853 shares during the period. Summitry LLC’s holdings in Johnson & Johnson were worth $9,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Johnson & Johnson by 1.3% in the second quarter. Vanguard Group Inc. now owns 237,047,859 shares of the company’s stock worth $36,209,060,000 after buying an additional 3,085,180 shares during the period. Geode Capital Management LLC raised its stake in Johnson & Johnson by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 60,609,476 shares of the company’s stock worth $9,227,988,000 after acquiring an additional 1,225,676 shares during the period. Norges Bank purchased a new position in Johnson & Johnson during the second quarter valued at approximately $4,877,174,000. Bank of New York Mellon Corp boosted its position in shares of Johnson & Johnson by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 24,637,649 shares of the company’s stock worth $4,568,313,000 after purchasing an additional 835,146 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Johnson & Johnson by 0.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 18,951,337 shares of the company’s stock worth $2,894,979,000 after purchasing an additional 52,074 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $243.37 on Monday. The firm has a market cap of $586.51 billion, a PE ratio of 22.02, a PEG ratio of 2.36 and a beta of 0.35. The stock has a 50 day moving average of $217.25 and a 200 day moving average of $196.79. The company has a current ratio of 1.03, a quick ratio of 0.77 and a debt-to-equity ratio of 0.48. Johnson & Johnson has a 12 month low of $141.50 and a 12 month high of $246.35.

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

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be paid a $1.30 dividend. 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 (DPR) 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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating on shares of Johnson & Johnson in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson & Johnson in a research note on Wednesday, January 28th. Barclays lifted their target price on Johnson & Johnson from $197.00 to $217.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 30th. BMO Capital Markets restated an “outperform” rating on shares of Johnson & Johnson in a research note on Thursday, December 11th. Finally, Guggenheim lifted their price objective on shares of Johnson & Johnson from $227.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.73.

Johnson & Johnson Company 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.