Parthenon LLC Buys 442 Shares of Johnson & Johnson (NYSE:JNJ)

Parthenon LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,275 shares of the company’s stock after buying an additional 442 shares during the period. Johnson & Johnson accounts for 2.4% of Parthenon LLC’s portfolio, making the stock its 11th biggest holding. Parthenon LLC’s holdings in Johnson & Johnson were worth $20,464,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its holdings in Johnson & Johnson by 0.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 575,944 shares of the company’s stock worth $93,337,000 after buying an additional 2,040 shares during the period. Angeles Investment Advisors LLC raised its stake in Johnson & Johnson by 6.9% during the 3rd quarter. Angeles Investment Advisors LLC now owns 6,197 shares of the company’s stock valued at $1,004,000 after purchasing an additional 400 shares during the period. Saturna Capital Corp lifted its holdings in Johnson & Johnson by 0.4% in the 3rd quarter. Saturna Capital Corp now owns 185,339 shares of the company’s stock worth $30,036,000 after purchasing an additional 738 shares in the last quarter. Pinnacle Financial Partners Inc boosted its stake in Johnson & Johnson by 1.1% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 167,832 shares of the company’s stock worth $27,199,000 after purchasing an additional 1,820 shares during the period. Finally, Rossmore Private Capital grew its holdings in Johnson & Johnson by 0.4% during the 3rd quarter. Rossmore Private Capital now owns 88,220 shares of the company’s stock valued at $14,297,000 after buying an additional 395 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at $3,131,683.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Performance

Johnson & Johnson stock opened at $153.28 on Thursday. 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 firm has a market capitalization of $369.04 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company’s 50-day moving average is $162.10 and its 200 day moving average is $156.01.

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

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is presently 71.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on JNJ. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Guggenheim increased their target price on Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.00.

Johnson & Johnson Company 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.