Kraft Davis & Associates LLC Acquires New Holdings in Johnson & Johnson (NYSE:JNJ)

Kraft Davis & Associates LLC acquired a new stake in Johnson & Johnson (NYSE:JNJ) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,086 shares of the company’s stock, valued at approximately $333,000.

Other institutional investors also recently made changes to their positions in the company. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson in the 4th quarter valued at $40,000. Tower View Wealth Management LLC boosted its stake in shares of Johnson & Johnson by 183.3% in the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after purchasing an additional 165 shares in the last quarter. Creative Capital Management Investments LLC raised its holdings in Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after buying an additional 86 shares during the last quarter. Altshuler Shaham Ltd raised its holdings in Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after buying an additional 87 shares during the last quarter. Finally, Mizuho Securities Co. Ltd. raised its holdings in Johnson & Johnson by 216.7% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 380 shares of the company’s stock valued at $59,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Down 1.2 %

Shares of Johnson & Johnson stock opened at $146.82 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The company has a 50-day moving average of $155.47 and a 200 day moving average of $155.41. The firm has a market cap of $353.80 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.45 and a beta of 0.53. 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 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the firm posted $2.68 EPS. Johnson & Johnson’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.65 earnings per share for the current fiscal 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 given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.38%. 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. Johnson & Johnson’s dividend payout ratio is 29.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. Morgan Stanley lowered their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Raymond James upped their price objective on shares of Johnson & Johnson from $172.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price objective for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Finally, Royal Bank of Canada decreased their price objective on shares of Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Insider Activity at Johnson & Johnson

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

About Johnson & Johnson

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.