Patton Albertson Miller Group LLC Boosts Holdings in Johnson & Johnson (NYSE:JNJ)

Patton Albertson Miller Group LLC grew its position in shares of Johnson & Johnson (NYSE:JNJGet Rating) by 3.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,950 shares of the company’s stock after purchasing an additional 1,037 shares during the period. Johnson & Johnson makes up about 1.0% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 25th largest position. Patton Albertson Miller Group LLC’s holdings in Johnson & Johnson were worth $5,840,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Johnson & Johnson by 2.6% in the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company’s stock worth $34,217,654,000 after buying an additional 4,982,885 shares during the last quarter. State Street Corp increased its stake in shares of Johnson & Johnson by 1.8% in the fourth quarter. State Street Corp now owns 144,677,639 shares of the company’s stock worth $24,750,004,000 after buying an additional 2,492,359 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Johnson & Johnson by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 44,405,610 shares of the company’s stock worth $7,576,867,000 after buying an additional 1,084,834 shares during the last quarter. Norges Bank bought a new stake in shares of Johnson & Johnson in the fourth quarter worth $4,172,929,000. Finally, Legal & General Group Plc increased its stake in shares of Johnson & Johnson by 5.8% in the fourth quarter. Legal & General Group Plc now owns 17,420,146 shares of the company’s stock worth $2,980,062,000 after buying an additional 948,306 shares during the last quarter. Hedge funds and other institutional investors own 68.78% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $174.52 on Friday. Johnson & Johnson has a 1 year low of $155.72 and a 1 year high of $186.69. The company has a market cap of $459.23 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 3.28 and a beta of 0.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.14 and a current ratio of 1.39. The firm has a fifty day moving average of $175.95 and a 200-day moving average of $174.39.

Johnson & Johnson (NYSE:JNJGet Rating) last announced its quarterly earnings results on Tuesday, July 19th. The company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.02. Johnson & Johnson had a net margin of 19.21% and a return on equity of 36.56%. The company had revenue of $24.02 billion during the quarter, compared to the consensus estimate of $23.85 billion. During the same quarter in the previous year, the company posted $2.48 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Johnson & Johnson will post 10.05 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Monday, August 22nd. Johnson & Johnson’s payout ratio is currently 65.79%.

Insider Buying and Selling

In related news, EVP Kathryn E. Wengel sold 40,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $173.00, for a total value of $6,920,000.00. Following the completion of the sale, the executive vice president now owns 71,311 shares of the company’s stock, valued at $12,336,803. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Robert J. Decker sold 8,462 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $180.00, for a total value of $1,523,160.00. Following the completion of the sale, the chief accounting officer now owns 15,473 shares of the company’s stock, valued at $2,785,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kathryn E. Wengel sold 40,000 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $173.00, for a total transaction of $6,920,000.00. Following the completion of the sale, the executive vice president now owns 71,311 shares in the company, valued at $12,336,803. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on JNJ shares. Daiwa Capital Markets started coverage on shares of Johnson & Johnson in a research note on Wednesday, June 22nd. They issued an “outperform” rating for the company. UBS Group decreased their price objective on shares of Johnson & Johnson from $185.00 to $180.00 in a report on Thursday, July 21st. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. The Goldman Sachs Group lifted their price objective on shares of Johnson & Johnson from $163.00 to $181.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. Finally, Wells Fargo & Company lifted their price objective on shares of Johnson & Johnson from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.89.

Johnson & Johnson Profile

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Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment offers baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR.

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Institutional Ownership by Quarter for Johnson & Johnson (NYSE:JNJ)

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