Rovin Capital UT ADV Buys New Position in Johnson & Johnson $JNJ

Rovin Capital UT ADV purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the second quarter, Holdings Channel reports. The fund purchased 1,355 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Johnson & Johnson during the 1st quarter worth about $1,369,188,000. Pacer Advisors Inc. raised its stake in Johnson & Johnson by 1,382.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,030,084 shares of the company’s stock worth $502,509,000 after buying an additional 2,825,626 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Johnson & Johnson by 159.6% in the second quarter. Assenagon Asset Management S.A. now owns 4,159,260 shares of the company’s stock worth $635,327,000 after acquiring an additional 2,557,388 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Johnson & Johnson in the second quarter valued at approximately $401,420,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Johnson & Johnson by 14.4% during the first quarter. Dimensional Fund Advisors LP now owns 16,903,105 shares of the company’s stock valued at $2,803,042,000 after acquiring an additional 2,129,612 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 0.3%

JNJ opened at $186.50 on Friday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $194.48. The company has a market cap of $449.34 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 2.19 and a beta of 0.38. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average of $184.25 and a 200 day moving average of $168.63.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. Johnson & Johnson had a return on equity of 32.73% and a net margin of 27.26%.The firm had revenue of $24.02 billion for the quarter. On average, sell-side analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.8%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 50.19%.

Insider Transactions at Johnson & Johnson

In related news, EVP Jennifer L. Taubert sold 56,471 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the transaction, the executive vice president directly owned 178,013 shares of the company’s stock, valued at approximately $31,652,491.53. This trade represents a 24.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Raymond James Financial upped their price objective on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Johnson Rice set a $190.00 target price on shares of Johnson & Johnson and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Guggenheim upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and lifted their price target for the company from $167.00 to $206.00 in a research note on Tuesday, September 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $209.00 price objective on shares of Johnson & Johnson in a research note on Friday, October 10th. Finally, Bank of America lifted their target price on Johnson & Johnson from $198.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.05.

About Johnson & Johnson

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.