Johnson & Johnson (NYSE:JNJ) Stock Position Lifted by Redmond Asset Management LLC

Redmond Asset Management LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 67.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,990 shares of the company’s stock after purchasing an additional 22,972 shares during the period. Johnson & Johnson accounts for about 2.1% of Redmond Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. Redmond Asset Management LLC’s holdings in Johnson & Johnson were worth $8,242,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of JNJ. State Street Corp raised its holdings in Johnson & Johnson by 0.9% in the third quarter. State Street Corp now owns 134,245,811 shares of the company’s stock worth $21,755,874,000 after purchasing an additional 1,154,088 shares in the last quarter. Geode Capital Management LLC grew its position 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 worth $9,064,149,000 after buying an additional 1,004,763 shares during the period. FMR LLC increased its stake in shares of Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after acquiring an additional 1,265,748 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 102,502 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares during the period. Institutional investors own 69.55% of the company’s stock.

Analysts Set New Price Targets

JNJ has been the subject of several recent research reports. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 25th. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research note on Friday, January 24th. Guggenheim increased their target price on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Morgan Stanley lowered their price target on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Bank of America cut their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $170.67.

Insiders Place Their Bets

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

Johnson & Johnson Price Performance

Shares of JNJ opened at $166.13 on Wednesday. The firm has a market cap of $399.98 billion, a PE ratio of 24.98, a P/E/G ratio of 2.56 and a beta of 0.52. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $149.72 and a two-hundred day simple moving average of $155.92.

Johnson & Johnson (NYSE:JNJ) last posted its 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 company 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 was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 earnings per share. On average, equities analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders 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 dividend on an annualized basis and a yield of 2.99%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Johnson & Johnson Company Profile

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.