Rice Partnership LLC Increases Stake in Johnson & Johnson (NYSE:JNJ)

Rice Partnership LLC lifted its holdings in Johnson & Johnson (NYSE:JNJGet Rating) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,655 shares of the company’s stock after purchasing an additional 5,868 shares during the quarter. Johnson & Johnson accounts for approximately 2.8% of Rice Partnership LLC’s investment portfolio, making the stock its 9th biggest holding. Rice Partnership LLC’s holdings in Johnson & Johnson were worth $8,765,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in JNJ. Morton Brown Family Wealth LLC lifted its position in shares of Johnson & Johnson by 78.0% in the second quarter. Morton Brown Family Wealth LLC now owns 178 shares of the company’s stock worth $32,000 after purchasing an additional 78 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Johnson & Johnson during the second quarter worth $39,000. First Bank & Trust increased its holdings in Johnson & Johnson by 69.6% during the second quarter. First Bank & Trust now owns 380 shares of the company’s stock worth $67,000 after buying an additional 156 shares during the last quarter. Heritage Wealth Management LLC acquired a new position in Johnson & Johnson during the second quarter worth $84,000. Finally, Timber Creek Capital Management LLC increased its holdings in Johnson & Johnson by 225.0% during the third quarter. Timber Creek Capital Management LLC now owns 650 shares of the company’s stock worth $106,000 after buying an additional 450 shares during the last quarter. Institutional investors own 67.94% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the topic of a number of recent analyst reports. Barclays initiated coverage on shares of Johnson & Johnson in a report on Monday, October 17th. They set an “equal weight” rating and a $175.00 target price on the stock. StockNews.com started coverage on shares of Johnson & Johnson in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Morgan Stanley decreased their price objective on shares of Johnson & Johnson from $178.00 to $176.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 6th. Credit Suisse Group started coverage on shares of Johnson & Johnson in a report on Thursday, November 17th. They issued a “neutral” rating and a $170.00 price objective on the stock. Finally, Citigroup upped their price objective on shares of Johnson & Johnson from $198.00 to $205.00 and gave the company a “buy” rating in a report on Monday, December 12th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.75.

Johnson & Johnson Stock Performance

JNJ stock opened at $168.31 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.18 and a current ratio of 1.43. The company’s 50-day simple moving average is $175.98 and its 200 day simple moving average is $171.06. Johnson & Johnson has a 52 week low of $155.72 and a 52 week high of $186.69. The company has a market capitalization of $440.04 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.21 and a beta of 0.56.

Johnson & Johnson (NYSE:JNJGet Rating) last released its quarterly earnings results on Tuesday, January 24th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Johnson & Johnson had a net margin of 19.95% and a return on equity of 35.37%. The business had revenue of $23.71 billion for the quarter, compared to the consensus estimate of $23.90 billion. During the same period in the prior year, the company posted $2.13 earnings per share. Johnson & Johnson’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson & Johnson will post 10.04 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Tuesday, February 21st will be given a dividend of $1.13 per share. The ex-dividend date is Friday, February 17th. This represents a $4.52 annualized dividend and a yield of 2.69%. Johnson & Johnson’s dividend payout ratio is 62.95%.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 76,923 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $176.78, for a total transaction of $13,598,447.94. Following the completion of the sale, the executive vice president now owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Jennifer L. Taubert sold 76,923 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $176.78, for a total value of $13,598,447.94. Following the completion of the transaction, the executive vice president now owns 126,456 shares of the company’s stock, valued at $22,354,891.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert J. Decker sold 16,928 shares of the stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $175.00, for a total transaction of $2,962,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,473 shares of the company’s stock, valued at approximately $2,707,775. The disclosure for this sale can be found here. Insiders sold 233,611 shares of company stock valued at $40,960,735 over the last quarter. 0.35% of the stock is owned by company insiders.

Johnson & Johnson Profile

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Johnson & Johnson is a holding company, which engages in the research and development, manufacture and sale of products in the health care field. It operates through the following segments: Consumer Health, Pharmaceutical, and Medical Devices. The Consumer Health segment includes products used in the baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

See Also

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

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