Rossby Financial LCC Invests $845,000 in Johnson & Johnson (NYSE:JNJ)

Rossby Financial LCC acquired a new stake in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,844 shares of the company’s stock, valued at approximately $845,000.

A number of other institutional investors have also recently bought and sold shares of JNJ. Norges Bank bought a new position in shares of Johnson & Johnson during the fourth quarter worth $4,390,037,000. Raymond James Financial Inc. acquired a new position in shares of Johnson & Johnson during the 4th quarter worth about $1,339,878,000. Vanguard Group Inc. grew its stake in Johnson & Johnson by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company’s stock valued at $33,666,460,000 after purchasing an additional 1,772,706 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Finally, Amundi increased its stake in shares of Johnson & Johnson by 16.2% during the 4th quarter. Amundi now owns 11,930,183 shares of the company’s stock worth $1,698,984,000 after purchasing an additional 1,660,458 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JNJ. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Morgan Stanley increased their target price on Johnson & Johnson from $163.00 to $164.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 9th. Raymond James decreased their price objective on shares of Johnson & Johnson from $170.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group raised shares of Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their target price for the stock from $157.00 to $172.00 in a report on Wednesday, April 9th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $171.67.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction dated 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 directly owns 21,001 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the firm’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 transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 2.0 %

JNJ opened at $151.62 on Monday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99. The firm has a market capitalization of $365.39 billion, a P/E ratio of 22.80, a PEG ratio of 2.56 and a beta of 0.49. The company’s 50-day moving average is $159.40 and its 200 day moving average is $155.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The company 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 34.24% and a net margin of 18.20%. Johnson & Johnson’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. Research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

About Johnson & Johnson

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.