Truvestments Capital LLC Buys 2,849 Shares of Johnson & Johnson (NYSE:JNJ)

Truvestments Capital LLC boosted its stake in Johnson & Johnson (NYSE:JNJ) by 12.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,305 shares of the company’s stock after purchasing an additional 2,849 shares during the quarter. Johnson & Johnson comprises about 1.1% of Truvestments Capital LLC’s investment portfolio, making the stock its 12th largest holding. Truvestments Capital LLC’s holdings in Johnson & Johnson were worth $4,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P lifted its holdings in Johnson & Johnson by 44.2% during the third quarter. Loomis Sayles & Co. L P now owns 87,611 shares of the company’s stock worth $14,198,000 after acquiring an additional 26,869 shares in the last quarter. Concentric Wealth Management LLC increased its position in shares of Johnson & Johnson by 1.6% during the third quarter. Concentric Wealth Management LLC now owns 50,575 shares of the company’s stock worth $8,196,000 after acquiring an additional 820 shares in the last quarter. Prosperity Financial Group Inc. raised its holdings in shares of Johnson & Johnson by 4.6% during the third quarter. Prosperity Financial Group Inc. now owns 4,418 shares of the company’s stock worth $716,000 after acquiring an additional 195 shares during the period. Douglass Winthrop Advisors LLC raised its stake in shares of Johnson & Johnson by 4.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 107,052 shares of the company’s stock valued at $17,349,000 after purchasing an additional 4,609 shares during the period. Finally, Fisher Asset Management LLC raised its position in Johnson & Johnson by 7.9% in the 3rd quarter. Fisher Asset Management LLC now owns 7,560,199 shares of the company’s stock valued at $1,225,206,000 after buying an additional 550,760 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wolfe Research initiated coverage on Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price target on the stock. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Cantor Fitzgerald restated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a report on Wednesday, October 16th. Finally, Guggenheim increased their price target on shares of Johnson & Johnson from $156.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.94.

Insider Buying and Selling

In other news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now directly owns 18,973 shares in the company, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Johnson & Johnson Trading Up 0.1 %

JNJ stock opened at $155.38 on Monday. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85. The company has a market capitalization of $374.10 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The company’s 50-day simple moving average is $160.21 and its 200 day simple moving average is $156.32. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $22.47 billion during the quarter, compared to the consensus estimate of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.66 earnings per share. As a group, sell-side analysts anticipate that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Tuesday, November 26th. Johnson & Johnson’s payout ratio is currently 71.78%.

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.