Byrne Asset Management LLC Acquires 2,662 Shares of Johnson & Johnson (NYSE:JNJ)

Byrne Asset Management LLC raised its position in Johnson & Johnson (NYSE:JNJ) by 16.1% during the fourth quarter, Holdings Channel reports. The firm owned 19,155 shares of the company’s stock after purchasing an additional 2,662 shares during the period. Johnson & Johnson comprises 2.3% of Byrne Asset Management LLC’s portfolio, making the stock its 5th largest holding. Byrne Asset Management LLC’s holdings in Johnson & Johnson were worth $2,995,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JNJ. Hibernia Wealth Partners LLC acquired a new position in shares of Johnson & Johnson in the 3rd quarter worth approximately $27,000. Tower View Wealth Management LLC lifted its position in shares of Johnson & Johnson by 183.3% during the 3rd quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares during the period. Keener Financial Planning LLC acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at $40,000. Creative Capital Management Investments LLC lifted its position in shares of Johnson & Johnson by 43.0% during the 3rd quarter. Creative Capital Management Investments LLC now owns 286 shares of the company’s stock valued at $45,000 after acquiring an additional 86 shares during the period. Finally, Altshuler Shaham Ltd lifted its position in shares of Johnson & Johnson by 37.8% during the 3rd quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after acquiring an additional 87 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on JNJ shares. Raymond James boosted their target price on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday. HSBC upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their target price for the company from $169.00 to $170.00 in a research report on Thursday. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley decreased their price target on shares of Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Johnson & Johnson presently has a consensus rating of “Moderate Buy” and an average target price of $175.86.

Insider Buying and Selling

In related news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total value of $9,281,969.19. Following the transaction, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Johnson & Johnson news, major shareholder & Johnson Johnson sold 3,725 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $25.81, for a total transaction of $96,142.25. Following the sale, the insider now directly owns 4,099,575 shares of the company’s stock, valued at $105,810,030.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jennifer L. Taubert sold 59,397 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the sale, the executive vice president now directly owns 141,416 shares in the company, valued at $22,099,078.32. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $145.74 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $175.97. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market cap of $351.20 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.40 and a beta of 0.53. The company has a fifty day moving average price of $156.32 and a 200-day moving average price of $155.68.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to the consensus estimate of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. As a group, equities research analysts predict that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be issued a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s payout ratio is 29.68%.

Johnson & Johnson Profile

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.