First City Capital Management Inc. Boosts Stake in Johnson & Johnson (NYSE:JNJ)

First City Capital Management Inc. lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 11,003 shares of the company’s stock after acquiring an additional 858 shares during the period. Johnson & Johnson accounts for 0.9% of First City Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. First City Capital Management Inc.’s holdings in Johnson & Johnson were worth $1,783,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of JNJ. International Assets Investment Management LLC grew its holdings in shares of Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after acquiring an additional 3,437,397 shares during the period. Marshall Wace LLP grew its holdings in shares of Johnson & Johnson by 506.9% in the second quarter. Marshall Wace LLP now owns 3,884,962 shares of the company’s stock worth $567,826,000 after acquiring an additional 3,244,862 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Johnson & Johnson by 16.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after acquiring an additional 3,139,499 shares during the period. Ninety One UK Ltd grew its holdings in shares of Johnson & Johnson by 59.0% in the second quarter. Ninety One UK Ltd now owns 6,708,943 shares of the company’s stock worth $980,579,000 after acquiring an additional 2,489,925 shares during the period. Finally, Swedbank AB bought a new stake in shares of Johnson & Johnson in the first quarter worth $331,178,000. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $154.77 on Tuesday. The firm has a market cap of $372.63 billion, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.74 and a beta of 0.53. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $161.11 and a 200-day moving average price of $156.16. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The firm had revenue of $22.47 billion during the quarter, compared to analyst estimates of $22.17 billion. Johnson & Johnson had a return on equity of 35.45% and a net margin of 19.14%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.66 earnings per share. As a group, equities research analysts predict that Johnson & Johnson will post 9.93 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio is currently 71.78%.

Analyst Upgrades and Downgrades

Several analysts recently commented on JNJ shares. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a report on Wednesday, October 16th. Daiwa Capital Markets lowered Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price target for the company from $160.00 to $150.00 in a report on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. Finally, Wolfe Research began coverage on Johnson & Johnson in a report on Friday. They set an “outperform” rating and a $190.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.94.

Insider Buying and Selling

In related news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was 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. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by company 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.