Tennessee Valley Asset Management Partners Has $434,000 Stock Position in Johnson & Johnson (NYSE:JNJ)

Tennessee Valley Asset Management Partners boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 48.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,969 shares of the company’s stock after buying an additional 971 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Johnson & Johnson were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in Johnson & Johnson during the 1st quarter worth about $31,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Johnson & Johnson in the 4th quarter valued at about $44,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $165.52 on Monday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The firm has a fifty day simple moving average of $159.55 and a 200-day simple moving average of $153.94. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $398.45 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.71 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.80 EPS. On average, sell-side analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, August 27th. Johnson & Johnson’s payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JNJ. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. TD Securities reduced their price objective on Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Finally, Sanford C. Bernstein lifted their price target on Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Buying and Selling at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now owns 18,973 shares in the company, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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.