ACR Alpine Capital Research LLC Purchases 655,818 Shares of Johnson & Johnson (NYSE:JNJ)

ACR Alpine Capital Research LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 55.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,840,237 shares of the company’s stock after purchasing an additional 655,818 shares during the quarter. Johnson & Johnson makes up 5.8% of ACR Alpine Capital Research LLC’s investment portfolio, making the stock its 9th largest position. ACR Alpine Capital Research LLC’s holdings in Johnson & Johnson were worth $266,135,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd raised its holdings in shares of Johnson & Johnson by 6.8% in the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after purchasing an additional 7,110 shares in the last quarter. Financial Counselors Inc. raised its holdings in shares of Johnson & Johnson by 5.3% in the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after purchasing an additional 9,309 shares in the last quarter. Oregon Pacific Wealth Management LLC acquired a new stake in shares of Johnson & Johnson in the 4th quarter valued at $949,000. Strategic Financial Concepts LLC raised its holdings in shares of Johnson & Johnson by 57.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 3,467 shares of the company’s stock valued at $501,000 after purchasing an additional 1,271 shares in the last quarter. Finally, Meridian Investment Counsel Inc. raised its stake in Johnson & Johnson by 19.6% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Down 1.1 %

Shares of NYSE:JNJ opened at $165.48 on Wednesday. The company has a market cap of $398.41 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 2.56 and a beta of 0.52. The firm’s 50-day simple moving average is $151.73 and its 200-day simple moving average is $156.12. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.05. The business had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. As a group, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio (DPR) is 74.59%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 25th. Stifel Nicolaus cut their price target on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. Finally, Guggenheim lifted their price target on shares of Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Insider Activity at Johnson & Johnson

In related news, EVP Timothy Schmid sold 403 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the sale, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Weinberger acquired 1,000 shares of Johnson & Johnson stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company’s stock.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.