Kornitzer Capital Management Inc. KS Has $50.49 Million Stake in Johnson & Johnson (NYSE:JNJ)

Kornitzer Capital Management Inc. KS grew its stake in Johnson & Johnson (NYSE:JNJ) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349,105 shares of the company’s stock after purchasing an additional 5,251 shares during the period. Johnson & Johnson comprises approximately 1.0% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 22nd largest position. Kornitzer Capital Management Inc. KS’s holdings in Johnson & Johnson were worth $50,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Knuff & Co LLC boosted its holdings in Johnson & Johnson by 0.7% in the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock worth $1,534,000 after acquiring an additional 64 shares in the last quarter. Vertex Planning Partners LLC raised its position in shares of Johnson & Johnson by 1.3% during the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock worth $844,000 after purchasing an additional 65 shares during the period. Freedom Day Solutions LLC lifted its holdings in shares of Johnson & Johnson by 1.1% in the 3rd quarter. Freedom Day Solutions LLC now owns 6,269 shares of the company’s stock worth $1,016,000 after purchasing an additional 66 shares in the last quarter. Corepath Wealth Partners LLC grew its position in Johnson & Johnson by 3.7% in the 4th quarter. Corepath Wealth Partners LLC now owns 1,985 shares of the company’s stock valued at $287,000 after purchasing an additional 70 shares during the period. Finally, Lifestyle Asset Management Inc. increased its stake in Johnson & Johnson by 4.7% during the 4th quarter. Lifestyle Asset Management Inc. now owns 1,560 shares of the company’s stock valued at $226,000 after purchasing an additional 70 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Price Performance

JNJ opened at $159.62 on Friday. Johnson & Johnson has a fifty-two week low of $140.68 and a fifty-two week high of $168.85. The firm has a 50-day moving average of $148.61 and a 200 day moving average of $155.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. The firm has a market cap of $384.29 billion, a P/E ratio of 24.00, a PEG ratio of 2.49 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released 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 firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 EPS. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $1.24 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.11%. Johnson & Johnson’s payout ratio is presently 74.59%.

Insider Activity

In other news, Director Mark A. Weinberger acquired 1,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Schmid sold 403 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price target on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price objective on shares of Johnson & Johnson in a report on Wednesday. Stifel Nicolaus dropped their target price on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Wolfe Research started coverage on Johnson & Johnson in a report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target for the company. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.67.

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.