Olstein Capital Management L.P. Purchases 4,000 Shares of Johnson & Johnson (NYSE:JNJ)

Olstein Capital Management L.P. grew its holdings in Johnson & Johnson (NYSE:JNJ) by 6.6% during the 4th quarter, HoldingsChannel reports. The firm owned 65,000 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Johnson & Johnson comprises approximately 1.7% of Olstein Capital Management L.P.’s holdings, making the stock its 13th largest position. Olstein Capital Management L.P.’s holdings in Johnson & Johnson were worth $9,400,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. IFS Advisors LLC increased its holdings in shares of Johnson & Johnson by 138.9% during the fourth quarter. IFS Advisors LLC now owns 172 shares of the company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the third quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC bought a new position in Johnson & Johnson in the 3rd quarter valued at approximately $35,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the last quarter. Finally, Activest Wealth Management bought a new stake in shares of Johnson & Johnson in the third quarter worth $40,000. 69.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Leerink Partners reduced their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Wells Fargo & Company decreased their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.44.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $150.63 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $147.81 and a 200 day simple moving average of $156.12. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The company has a market cap of $362.65 billion, a P/E ratio of 22.65, a PEG ratio of 2.45 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 EPS. Sell-side analysts predict that Johnson & Johnson will post 10.56 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 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

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.