Summit X LLC Has $574,000 Holdings in Johnson & Johnson (NYSE:JNJ)

Summit X LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,701 shares of the company’s stock after buying an additional 471 shares during the quarter. Summit X LLC’s holdings in Johnson & Johnson were worth $574,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of JNJ. GW&K Investment Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $35,000. Dark Forest Capital Management LP raised its stake in shares of Johnson & Johnson by 1,044.4% in the fourth quarter. Dark Forest Capital Management LP now owns 206 shares of the company’s stock valued at $36,000 after purchasing an additional 188 shares in the last quarter. Ruedi Wealth Management Inc. acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $42,000. Kepos Capital LP acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $45,000. Finally, 25 LLC acquired a new position in shares of Johnson & Johnson in the first quarter valued at $55,000. 67.57% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $166.25 on Friday. The business’s 50-day simple moving average is $166.68 and its 200 day simple moving average is $161.48. The stock has a market cap of $432.08 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.77 and a beta of 0.54. Johnson & Johnson has a 12-month low of $150.11 and a 12-month high of $181.04. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. The business had revenue of $25.53 billion for the quarter, compared to analysts’ expectations of $24.63 billion. Johnson & Johnson had a return on equity of 36.72% and a net margin of 13.35%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.59 earnings per share. As a group, research analysts anticipate that Johnson & Johnson will post 10.75 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, August 25th. Johnson & Johnson’s dividend payout ratio (DPR) is currently 96.36%.

Insiders Place Their Bets

In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Johnson & Johnson news, EVP Kathryn E. Wengel sold 12,465 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $160.00, for a total transaction of $1,994,400.00. Following the transaction, the executive vice president now owns 65,934 shares in the company, valued at $10,549,440. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider William Hait sold 14,698 shares of Johnson & Johnson stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $172.00, for a total value of $2,528,056.00. Following the transaction, the insider now owns 87,747 shares in the company, valued at approximately $15,092,484. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,163 shares of company stock worth $7,928,856. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on JNJ. Raymond James upped their target price on Johnson & Johnson from $181.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Credit Suisse Group increased their price objective on Johnson & Johnson from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. JPMorgan Chase & Co. increased their price objective on Johnson & Johnson from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, July 21st. StockNews.com began coverage on Johnson & Johnson in a research note on Thursday, August 17th. They set a “strong-buy” rating for the company. Finally, Barclays increased their price objective on Johnson & Johnson from $171.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $171.80.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Consumer Health segment provides skin health/beauty products under the AVEENO, CLEAN & CLEAR, DR. CI:LABO, NEUTROGENA, and OGX brands; baby care products under the JOHNSON'S and AVEENO Baby brands; oral care products under the LISTERINE brand; TYLENOL acetaminophen products; SUDAFED cold, flu, and allergy products; BENADRYL and ZYRTEC allergy products; MOTRIN IB ibuprofen products; NICORETTE smoking cessation products; and PEPCID acid reflux products.