HTLF Bank Takes $8.75 Million Position in Johnson & Johnson (NYSE:JNJ)

HTLF Bank bought a new stake in Johnson & Johnson (NYSE:JNJ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 55,829 shares of the company’s stock, valued at approximately $8,751,000. Johnson & Johnson makes up about 1.0% of HTLF Bank’s portfolio, making the stock its 22nd largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in JNJ. International Assets Investment Management LLC boosted its holdings in shares of Johnson & Johnson by 7,875.8% in the fourth quarter. International Assets Investment Management LLC now owns 2,090,384 shares of the company’s stock valued at $327,647,000 after acquiring an additional 2,064,175 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Johnson & Johnson by 89.9% in the third quarter. LSV Asset Management now owns 2,251,770 shares of the company’s stock valued at $350,713,000 after acquiring an additional 1,065,880 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in shares of Johnson & Johnson by 190.5% in the third quarter. PineStone Asset Management Inc. now owns 1,494,978 shares of the company’s stock valued at $232,843,000 after purchasing an additional 980,297 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Johnson & Johnson by 2,264.8% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 822,725 shares of the company’s stock valued at $128,139,000 after purchasing an additional 787,934 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Johnson & Johnson by 22.2% in the third quarter. Envestnet Asset Management Inc. now owns 3,957,429 shares of the company’s stock valued at $616,370,000 after purchasing an additional 719,472 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the transaction, the executive vice president now owns 141,416 shares of the company’s stock, valued at $22,099,078.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the completion of the transaction, the insider now owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $148.53 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.91 and a current ratio of 1.16. The company has a market capitalization of $357.92 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 2.46 and a beta of 0.53. The company’s 50 day simple moving average is $155.69 and its 200 day simple moving average is $155.47. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.07. The business had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 earnings per share. On average, sell-side analysts predict that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. This represents a $4.96 annualized dividend and a dividend yield of 3.34%. Johnson & Johnson’s dividend payout ratio is presently 29.68%.

Analysts Set New Price Targets

Several brokerages recently commented on JNJ. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Bank of America reduced their price objective on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, April 15th. Morgan Stanley reduced their price objective on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Finally, Raymond James lifted their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.86.

Johnson & Johnson 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.