Holocene Advisors LP Invests $225.04 Million in Johnson & Johnson (NYSE:JNJ)

Holocene Advisors LP purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the 3rd quarter, Holdings Channel reports. The fund purchased 1,388,621 shares of the company’s stock, valued at approximately $225,040,000. Johnson & Johnson makes up 0.9% of Holocene Advisors LP’s holdings, making the stock its 25th largest position.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new stake in Johnson & Johnson in the 2nd quarter worth approximately $210,000. Sage Capital Advisors llc grew its holdings in shares of Johnson & Johnson by 0.7% during the 2nd quarter. Sage Capital Advisors llc now owns 42,785 shares of the company’s stock valued at $6,254,000 after acquiring an additional 292 shares in the last quarter. Eastover Investment Advisors LLC increased its stake in shares of Johnson & Johnson by 2.3% in the second quarter. Eastover Investment Advisors LLC now owns 38,982 shares of the company’s stock worth $5,693,000 after acquiring an additional 878 shares during the last quarter. Olistico Wealth LLC raised its holdings in shares of Johnson & Johnson by 2.9% during the second quarter. Olistico Wealth LLC now owns 3,584 shares of the company’s stock worth $524,000 after acquiring an additional 100 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its stake in Johnson & Johnson by 32.4% in the second quarter. Kingswood Wealth Advisors LLC now owns 29,557 shares of the company’s stock valued at $4,320,000 after purchasing an additional 7,227 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on JNJ shares. Royal Bank of Canada boosted their price target on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Citigroup increased their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Guggenheim raised their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Seven equities research analysts have rated the stock with a hold rating, seven have given 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 price target of $175.67.

Johnson & Johnson Stock Down 0.1 %

JNJ opened at $154.82 on Monday. The business has a 50 day moving average of $159.15 and a 200-day moving average of $156.46. The stock has a market capitalization of $372.75 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.75 and a beta of 0.53. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

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, beating analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same period in the prior year, the firm earned $2.66 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a yield of 3.20%. Johnson & Johnson’s dividend payout ratio (DPR) is 71.78%.

Johnson & Johnson 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.