Bourne Lent Asset Management Inc. Raises Stake in Johnson & Johnson (NYSE:JNJ)

Bourne Lent Asset Management Inc. grew its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,366 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Johnson & Johnson accounts for approximately 0.8% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 24th biggest holding. Bourne Lent Asset Management Inc.’s holdings in Johnson & Johnson were worth $2,078,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Fred Alger Management LLC lifted its position in Johnson & Johnson by 6.1% in the second quarter. Fred Alger Management LLC now owns 42,968 shares of the company’s stock valued at $6,280,000 after purchasing an additional 2,488 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Johnson & Johnson during the 2nd quarter valued at $223,000. MBB Public Markets I LLC boosted its position in Johnson & Johnson by 1,827.5% during the 2nd quarter. MBB Public Markets I LLC now owns 181,395 shares of the company’s stock valued at $26,513,000 after buying an additional 171,984 shares during the period. Marathon Capital Management grew its holdings in Johnson & Johnson by 3.3% in the 2nd quarter. Marathon Capital Management now owns 29,668 shares of the company’s stock worth $4,336,000 after acquiring an additional 940 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Johnson & Johnson by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 2,686,122 shares of the company’s stock valued at $392,603,000 after acquiring an additional 7,107 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 0.1 %

Shares of NYSE:JNJ opened at $146.76 on Friday. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $168.85. The stock has a market capitalization of $353.34 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.45 and a beta of 0.51. The stock has a fifty day simple moving average of $147.99 and a two-hundred day simple moving average of $155.98. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The company had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22,438,500 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. Johnson & Johnson’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 EPS. On average, research analysts anticipate that Johnson & Johnson will post 10.56 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.38%. Johnson & Johnson’s payout ratio is currently 74.59%.

Wall Street Analyst Weigh In

JNJ has been the topic of several recent analyst reports. Guggenheim raised their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Wolfe Research initiated coverage on Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Barclays dropped their price target on Johnson & Johnson from $160.00 to $159.00 and set an “equal weight” rating for the company in a research note on Tuesday. Stifel Nicolaus reduced their price objective on shares of Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Leerink Partners cut their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a research note on Thursday. Nine 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $170.06.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger purchased 1,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase 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 insiders.

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.