Kraft Davis & Associates LLC Grows Position in Johnson & Johnson (NYSE:JNJ)

Kraft Davis & Associates LLC increased its stake in Johnson & Johnson (NYSE:JNJ) by 12.2% in the third quarter, Holdings Channel reports. The institutional investor owned 2,592 shares of the company’s stock after acquiring an additional 281 shares during the period. Kraft Davis & Associates LLC’s holdings in Johnson & Johnson were worth $416,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Meridian Financial Partners LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at $1,626,000. Meridian Investment Counsel Inc. boosted its position in Johnson & Johnson by 19.6% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after buying an additional 3,710 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in shares of Johnson & Johnson by 137.2% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 43,568 shares of the company’s stock valued at $7,061,000 after acquiring an additional 25,203 shares in the last quarter. Lmcg Investments LLC boosted its holdings in shares of Johnson & Johnson by 32.7% in the third quarter. Lmcg Investments LLC now owns 87,162 shares of the company’s stock valued at $14,125,000 after purchasing an additional 21,471 shares during the period. Finally, WealthPlan Investment Management LLC increased its holdings in Johnson & Johnson by 7.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 61,691 shares of the company’s stock worth $9,998,000 after purchasing an additional 4,174 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.2 %

Shares of NYSE:JNJ opened at $152.97 on Wednesday. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The stock’s 50-day moving average price is $160.83 and its two-hundred day moving average price is $156.19. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The firm has a market cap of $368.29 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.74 and a beta of 0.53.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business posted $2.66 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Johnson & Johnson will post 9.93 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analysts Forecast Growth

JNJ has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Royal Bank of Canada lifted their target price on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.16% of the company’s stock.

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.