Keene & Associates Inc. Has $2.98 Million Stock Holdings in Johnson & Johnson (NYSE:JNJ)

Keene & Associates Inc. decreased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,997 shares of the company’s stock after selling 70 shares during the quarter. Johnson & Johnson comprises about 2.5% of Keene & Associates Inc.’s portfolio, making the stock its 23rd biggest holding. Keene & Associates Inc.’s holdings in Johnson & Johnson were worth $2,978,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hibernia Wealth Partners LLC bought a new position in Johnson & Johnson during the third quarter worth about $27,000. Tower View Wealth Management LLC lifted its position in shares of Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 165 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $40,000. Creative Capital Management Investments LLC increased its holdings in shares of Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock worth $45,000 after acquiring an additional 86 shares during the last quarter. Finally, Altshuler Shaham Ltd lifted its holdings in Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.5 %

JNJ stock opened at $147.93 on Friday. The company has a market cap of $356.48 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 2.39 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The business has a 50-day simple moving average of $156.15 and a 200 day simple moving average of $155.63.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same quarter in the prior year, the firm posted $2.68 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

Several research firms have commented on JNJ. Raymond James upped their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. Bank of America lowered their target price on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price objective for the company from $169.00 to $170.00 in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $175.86.

Insider Activity at Johnson & Johnson

In other news, EVP Jennifer L. Taubert sold 59,397 shares of Johnson & Johnson stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jennifer L. Taubert sold 59,397 shares of the firm’s stock in a transaction on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the sale, the insider now directly owns 4,099,575 shares in the company, 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 company 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.