Kovitz Investment Group Partners LLC Buys 70,506 Shares of Johnson & Johnson (NYSE:JNJ)

Kovitz Investment Group Partners LLC increased its stake in Johnson & Johnson (NYSE:JNJ) by 19.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 427,843 shares of the company’s stock after purchasing an additional 70,506 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Johnson & Johnson were worth $69,336,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JNJ. Innealta Capital LLC acquired a new stake in Johnson & Johnson in the 2nd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at $31,000. RPg Family Wealth Advisory LLC acquired a new stake in Johnson & Johnson in the 3rd quarter valued at $35,000. Mowery & Schoenfeld Wealth Management LLC grew its position in Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the period. Finally, Activest Wealth Management acquired a new stake in Johnson & Johnson in the 3rd quarter valued at $40,000. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.6 %

Shares of JNJ opened at $149.51 on Friday. The business’s 50-day moving average price is $158.33 and its 200-day moving average price is $156.36. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. The stock has a market cap of $359.96 billion, a PE ratio of 21.64, a P/E/G ratio of 2.71 and a beta of 0.51. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.21. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The firm had revenue of $22.47 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period in the prior year, the business posted $2.66 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is 71.78%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on JNJ shares. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their target price on Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $175.67.

Johnson & Johnson Company Profile

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.