Summitry LLC Grows Stake in Johnson & Johnson (NYSE:JNJ)

Summitry LLC lifted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,486 shares of the company’s stock after purchasing an additional 4,557 shares during the period. Summitry LLC’s holdings in Johnson & Johnson were worth $5,277,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of JNJ. Vanguard Group Inc. lifted its position in shares of Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after buying an additional 1,772,706 shares during the last quarter. State Street Corp lifted its holdings in Johnson & Johnson by 0.9% during the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after purchasing an additional 1,154,088 shares during the last quarter. Geode Capital Management LLC boosted its position in Johnson & Johnson by 1.8% during the third quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock worth $9,064,149,000 after purchasing an additional 1,004,763 shares during the period. FMR LLC increased its stake in shares of Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Johnson & Johnson by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company’s stock valued at $2,630,216,000 after buying an additional 547,714 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Citigroup decreased their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Bank of America boosted their price objective on shares of Johnson & Johnson from $159.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, March 5th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.33.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $161.14 on Wednesday. The company has a 50-day simple moving average of $157.70 and a two-hundred day simple moving average of $156.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. The firm has a market capitalization of $388.32 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99.

Johnson & Johnson (NYSE:JNJ) last released its quarterly 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. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.29 earnings per share. On average, analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.08%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Insiders Place Their Bets

In related news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares of the company’s stock, valued at $3,483,645.88. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Company 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.