Ellis Investment Partners LLC Purchases 1,195 Shares of Johnson & Johnson (NYSE:JNJ)

Ellis Investment Partners LLC increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,015 shares of the company’s stock after acquiring an additional 1,195 shares during the quarter. Ellis Investment Partners LLC’s holdings in Johnson & Johnson were worth $1,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. DORCHESTER WEALTH MANAGEMENT Co lifted its stake in Johnson & Johnson by 0.6% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 75,495 shares of the company’s stock valued at $11,758,000 after buying an additional 414 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in Johnson & Johnson by 82.8% in the fourth quarter. OneAscent Financial Services LLC now owns 9,838 shares of the company’s stock valued at $1,542,000 after buying an additional 4,457 shares in the last quarter. TrueMark Investments LLC bought a new position in Johnson & Johnson in the fourth quarter valued at approximately $1,458,000. RAM Investment Partners LLC lifted its stake in Johnson & Johnson by 4.5% in the fourth quarter. RAM Investment Partners LLC now owns 1,688 shares of the company’s stock valued at $265,000 after buying an additional 73 shares in the last quarter. Finally, RFG Advisory LLC lifted its stake in Johnson & Johnson by 12.6% in the third quarter. RFG Advisory LLC now owns 18,758 shares of the company’s stock valued at $2,921,000 after buying an additional 2,102 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price target for the company from $169.00 to $170.00 in a research note on Thursday. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 6th. Morgan Stanley cut their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Royal Bank of Canada cut their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Raymond James boosted their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Price Performance

Shares of JNJ opened at $145.74 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.40 and a beta of 0.53. The company’s fifty day simple moving average is $156.32 and its 200 day simple moving average is $155.68. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.38.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the previous year, the company earned $2.68 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts forecast that Johnson & Johnson will post 10.65 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. The ex-dividend date is Monday, May 20th. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a dividend yield of 3.40%. Johnson & Johnson’s dividend payout ratio is 29.68%.

Insider Activity at Johnson & Johnson

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total value of $96,142.25. Following the transaction, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

About Johnson & Johnson

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.