Johnson & Johnson (NYSE:JNJ) Shares Bought by Tevis Investment Management

Tevis Investment Management lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 5.4% during the third quarter, HoldingsChannel reports. The firm owned 17,334 shares of the company’s stock after purchasing an additional 884 shares during the quarter. Johnson & Johnson comprises about 2.1% of Tevis Investment Management’s holdings, making the stock its 11th largest holding. Tevis Investment Management’s holdings in Johnson & Johnson were worth $2,809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Johnson & Johnson during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC bought a new stake in shares of Johnson & Johnson in the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares during the last quarter. Morton Brown Family Wealth LLC grew its holdings in Johnson & Johnson by 400.0% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock worth $41,000 after acquiring an additional 200 shares in the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Johnson & Johnson in the 2nd quarter valued at about $43,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JNJ. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Sanford C. Bernstein lifted their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Daiwa Capital Markets downgraded Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Finally, Citigroup boosted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.93.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $159.86 on Friday. The stock’s 50 day moving average price is $163.39 and its 200 day moving average price is $155.35. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79. The stock has a market cap of $384.88 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.85 and a beta of 0.52. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the company earned $2.66 earnings per share. Johnson & Johnson’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Johnson & Johnson will post 9.94 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.10%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

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.