Kayne Anderson Rudnick Investment Management LLC Has $17.17 Million Holdings in Johnson & Johnson (NYSE:JNJ)

Kayne Anderson Rudnick Investment Management LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,700 shares of the company’s stock after buying an additional 9,977 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Johnson & Johnson were worth $17,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Landing Point Financial Group LLC acquired a new stake in Johnson & Johnson in the fourth quarter worth $319,000. Mirabella Financial Services LLP acquired a new stake in Johnson & Johnson during the 4th quarter worth $955,000. MetLife Investment Management LLC grew its stake in Johnson & Johnson by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 637,349 shares of the company’s stock valued at $92,173,000 after acquiring an additional 11,299 shares during the period. Natixis increased its holdings in shares of Johnson & Johnson by 16.4% in the fourth quarter. Natixis now owns 165,510 shares of the company’s stock worth $23,936,000 after acquiring an additional 23,261 shares in the last quarter. Finally, Norinchukin Bank The raised its position in shares of Johnson & Johnson by 7.4% during the fourth quarter. Norinchukin Bank The now owns 117,460 shares of the company’s stock worth $16,987,000 after purchasing an additional 8,049 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Up 2.3 %

Johnson & Johnson stock opened at $157.42 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99. The stock has a 50-day simple moving average of $159.49 and a 200 day simple moving average of $154.95. The stock has a market capitalization of $379.37 billion, a P/E ratio of 23.67, a PEG ratio of 2.56 and a beta of 0.49.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The business had revenue of $21.89 billion during the quarter, compared to the consensus estimate of $21.65 billion. Analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 27th will be issued a $1.30 dividend. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Insider Transactions at Johnson & Johnson

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now directly owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total value of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares of the company’s stock, valued at $3,483,645.88. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on JNJ. The Goldman Sachs Group raised Johnson & Johnson from a “neutral” rating to a “buy” rating and increased their target price for the stock from $157.00 to $172.00 in a research note on Wednesday, April 9th. Barclays dropped their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday. Morgan Stanley upped their target price on shares of Johnson & Johnson from $164.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 16th. Raymond James cut their price target on Johnson & Johnson from $165.00 to $162.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus decreased their price objective on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.82.

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.