Summit Asset Management LLC Grows Holdings in Johnson & Johnson (NYSE:JNJ)

Summit Asset Management LLC raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,568 shares of the company’s stock after purchasing an additional 373 shares during the quarter. Johnson & Johnson accounts for about 0.5% of Summit Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Summit Asset Management LLC’s holdings in Johnson & Johnson were worth $2,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. West Family Investments Inc. boosted its holdings in Johnson & Johnson by 13.6% in the 4th quarter. West Family Investments Inc. now owns 9,060 shares of the company’s stock worth $1,420,000 after buying an additional 1,087 shares during the period. Robertson Stephens Wealth Management LLC grew its position in shares of Johnson & Johnson by 4.6% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 27,286 shares of the company’s stock worth $4,277,000 after purchasing an additional 1,211 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its stake in Johnson & Johnson by 5.6% during the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 145,906 shares of the company’s stock valued at $22,869,000 after purchasing an additional 7,733 shares during the period. Rogco LP lifted its holdings in Johnson & Johnson by 40.0% in the 4th quarter. Rogco LP now owns 12,740 shares of the company’s stock worth $1,997,000 after purchasing an additional 3,640 shares in the last quarter. Finally, FFT Wealth Management LLC boosted its stake in Johnson & Johnson by 11.4% in the 4th quarter. FFT Wealth Management LLC now owns 2,091 shares of the company’s stock worth $328,000 after purchasing an additional 214 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder & Johnson Johnson sold 3,725 shares of the firm’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 completion of the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at approximately $105,810,030.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Johnson & Johnson 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 value of $9,281,969.19. Following the completion of the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Down 0.5 %

Shares of JNJ opened at $148.57 on Tuesday. The stock has a 50 day moving average price of $153.95 and a 200 day moving average price of $155.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17. The stock has a market capitalization of $357.56 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 2.46 and a beta of 0.55. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last released its 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 36.70%. The business had revenue of $21.38 billion for the quarter, compared to analyst estimates of $21.39 billion. During the same period last year, the company posted $2.68 EPS. The business’s revenue was up 2.3% on a year-over-year basis. Equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.34%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Analysts Set New Price Targets

JNJ has been the subject of several research analyst reports. Royal Bank of Canada cut their target price on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Bank of America cut their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

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.