Johnson & Johnson (NYSE:JNJ) Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,191 shares of the company’s stock after acquiring an additional 1,897 shares during the quarter. Convergence Investment Partners LLC’s holdings in Johnson & Johnson were worth $2,342,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Johnson & Johnson by 0.9% during the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after acquiring an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after purchasing an additional 1,004,763 shares during the last quarter. FMR LLC increased its stake in Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after buying an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Johnson & Johnson by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock worth $2,858,543,000 after purchasing an additional 102,502 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Johnson & Johnson by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

NYSE JNJ opened at $162.35 on Friday. The stock’s 50-day moving average price is $148.93 and its two-hundred day moving average price is $155.90. The company has a market cap of $390.87 billion, a PE ratio of 24.41, a PEG ratio of 2.53 and a beta of 0.52. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 34.24% and a net margin of 18.20%. Johnson & Johnson’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.06%. Johnson & Johnson’s dividend payout ratio is 74.59%.

Analysts Set New Price Targets

JNJ has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 price objective for the company. Citigroup dropped their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday. Finally, Bank of America lowered their price target on Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Insider Buying and Selling at Johnson & Johnson

In other news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now owns 1,000 shares in the company, valued at $147,220. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

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.