Elefante Mark B Increases Holdings in Johnson & Johnson (NYSE:JNJ)

Elefante Mark B increased its stake in Johnson & Johnson (NYSE:JNJ) by 8.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,180 shares of the company’s stock after purchasing an additional 505 shares during the quarter. Johnson & Johnson comprises about 2.9% of Elefante Mark B’s holdings, making the stock its 11th largest position. Elefante Mark B’s holdings in Johnson & Johnson were worth $869,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Foundations Investment Advisors LLC purchased a new position in shares of Johnson & Johnson in the first quarter valued at $215,000. Triangle Securities Wealth Management grew its position in Johnson & Johnson by 0.5% during the first quarter. Triangle Securities Wealth Management now owns 23,171 shares of the company’s stock worth $3,038,000 after buying an additional 112 shares in the last quarter. American National Bank grew its position in Johnson & Johnson by 32.7% during the first quarter. American National Bank now owns 42,661 shares of the company’s stock worth $5,594,000 after buying an additional 10,508 shares in the last quarter. Red Spruce Capital LLC grew its position in Johnson & Johnson by 1.0% during the first quarter. Red Spruce Capital LLC now owns 10,704 shares of the company’s stock worth $1,404,000 after buying an additional 110 shares in the last quarter. Finally, Callahan Advisors LLC grew its position in Johnson & Johnson by 0.8% during the first quarter. Callahan Advisors LLC now owns 113,550 shares of the company’s stock worth $14,890,000 after buying an additional 882 shares in the last quarter. Institutional investors own 68.44% of the company’s stock.

In other news, EVP Ashley Mcevoy sold 29,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $147.47, for a total value of $4,276,630.00. Following the completion of the sale, the executive vice president now owns 21,682 shares of the company’s stock, valued at approximately $3,197,444.54. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

NYSE JNJ opened at $145.76 on Friday. Johnson & Johnson has a 1-year low of $109.16 and a 1-year high of $157.00. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $144.04 and a 200-day moving average of $144.14. The firm has a market cap of $383.76 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 3.23 and a beta of 0.69.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Thursday, July 16th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.17. Johnson & Johnson had a return on equity of 35.21% and a net margin of 22.69%. The company had revenue of $18.34 billion during the quarter, compared to analyst estimates of $17.73 billion. During the same quarter in the previous year, the company posted $2.58 EPS. Johnson & Johnson’s revenue for the quarter was down 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Johnson & Johnson will post 7.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, August 24th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 46.54%.

Several research firms recently commented on JNJ. Citigroup boosted their target price on Johnson & Johnson from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Raymond James boosted their target price on Johnson & Johnson from $157.00 to $158.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. UBS Group cut Johnson & Johnson from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $163.00 to $160.00 in a research report on Tuesday, April 28th. Morgan Stanley boosted their target price on Johnson & Johnson from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Zacks Investment Research cut Johnson & Johnson from a “hold” rating to a “sell” rating and set a $150.00 price objective for the company. in a report on Tuesday, July 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $163.38.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the health care field worldwide. It operates in three segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment offers baby care products under the JOHNSON'S brand; oral care products under the LISTERINE brand; beauty products under the AVEENO, CLEAN & CLEAR, DABAO, JOHNSON'S Adult, LE PETITE MARSEILLAIS, NEUTROGENA, and OGX brands; over-the-counter medicines, including acetaminophen products under the TYLENOL brand; cold, flu, and allergy products under the SUDAFED brand; allergy products under the BENADRYL and ZYRTEC brands; ibuprofen products under the MOTRIN IB brand; and acid reflux products under the PEPCID brand.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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