OFI Invest Asset Management Purchases New Shares in Johnson & Johnson (NYSE:JNJ)

OFI Invest Asset Management purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 9,024 shares of the company’s stock, valued at approximately $1,260,000.

Other hedge funds have also added to or reduced their stakes in the company. Knuff & Co LLC raised its stake in Johnson & Johnson by 0.7% in the third quarter. Knuff & Co LLC now owns 9,466 shares of the company’s stock valued at $1,534,000 after buying an additional 64 shares in the last quarter. Vertex Planning Partners LLC raised its stake in Johnson & Johnson by 1.3% in the third quarter. Vertex Planning Partners LLC now owns 5,211 shares of the company’s stock valued at $844,000 after buying an additional 65 shares in the last quarter. Werba Rubin Papier Wealth Management raised its stake in Johnson & Johnson by 3.3% in the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,080 shares of the company’s stock valued at $301,000 after buying an additional 66 shares in the last quarter. Denali Advisors LLC raised its stake in Johnson & Johnson by 1.3% in the fourth quarter. Denali Advisors LLC now owns 5,128 shares of the company’s stock valued at $742,000 after buying an additional 67 shares in the last quarter. Finally, Corepath Wealth Partners LLC raised its stake in Johnson & Johnson by 3.7% in the fourth quarter. Corepath Wealth Partners LLC now owns 1,985 shares of the company’s stock valued at $287,000 after buying an additional 70 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Robert J. Decker sold 6,999 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the sale, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Schmid sold 403 shares of Johnson & Johnson stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total transaction of $62,928.45. Following the sale, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $166.81 on Monday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock’s 50 day moving average is $152.95 and its two-hundred day moving average is $156.24. The firm has a market capitalization of $401.61 billion, a PE ratio of 25.08, a P/E/G ratio of 2.56 and a beta of 0.47. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to analyst estimates of $22.44 billion. During the same quarter in the previous year, the company earned $2.29 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on JNJ shares. Morgan Stanley cut their price target on Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Bank of America lifted their target price on Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Finally, StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $171.33.

Johnson & Johnson 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.