Conway Capital Management Inc. Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Conway Capital Management Inc. acquired a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,575 shares of the company’s stock, valued at approximately $255,000.

Several other large investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new stake in shares of Johnson & Johnson in the 2nd quarter valued at approximately $27,000. Highline Wealth Partners LLC purchased a new stake in shares of Johnson & Johnson in the third quarter valued at $31,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Johnson & Johnson in the third quarter worth $35,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Johnson & Johnson by 58.7% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after buying an additional 91 shares in the last quarter. Finally, Activest Wealth Management acquired a new position in Johnson & Johnson during the third quarter valued at $40,000. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on JNJ. Citigroup raised their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 price objective on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Wolfe Research started 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 on the stock. Morgan Stanley lifted their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Finally, Guggenheim upped their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and an average price target of $175.67.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $149.61 on Tuesday. The business’s 50-day simple moving average is $157.84 and its 200-day simple moving average is $156.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The firm has a market cap of $360.20 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 2.65 and a beta of 0.51.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS 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 company had revenue of $22.47 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter last year, the company posted $2.66 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company 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 dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s dividend payout ratio is 71.78%.

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.