Johnson & Johnson (NYSE:JNJ) Stake Lifted by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. increased its stake in shares of Johnson & Johnson (NYSE:JNJ) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,535 shares of the company’s stock after buying an additional 1,300 shares during the quarter. Johnson & Johnson comprises approximately 0.4% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 28th largest position. Sprucegrove Investment Management Ltd.’s holdings in Johnson & Johnson were worth $8,548,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Graypoint LLC grew its stake in shares of Johnson & Johnson by 11.4% in the fourth quarter. Graypoint LLC now owns 23,322 shares of the company’s stock worth $3,655,000 after purchasing an additional 2,391 shares in the last quarter. Byrne Asset Management LLC grew its stake in shares of Johnson & Johnson by 16.1% in the fourth quarter. Byrne Asset Management LLC now owns 19,155 shares of the company’s stock worth $2,995,000 after purchasing an additional 2,662 shares in the last quarter. Saxony Capital Management LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth $275,000. ORG Partners LLC grew its stake in shares of Johnson & Johnson by 63.6% in the fourth quarter. ORG Partners LLC now owns 11,416 shares of the company’s stock worth $1,791,000 after purchasing an additional 4,437 shares in the last quarter. Finally, NewEdge Wealth LLC grew its stake in shares of Johnson & Johnson by 14.8% in the fourth quarter. NewEdge Wealth LLC now owns 106,055 shares of the company’s stock worth $16,623,000 after purchasing an additional 13,657 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Trading Up 1.5 %

Shares of NYSE JNJ opened at $147.93 on Friday. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97. The company has a market cap of $356.48 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 2.39 and a beta of 0.53. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $156.15 and a 200-day simple moving average of $155.63.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Tuesday, April 16th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.64 by $0.07. Johnson & Johnson had a return on equity of 36.43% and a net margin of 45.26%. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the business posted $2.68 earnings per share. Johnson & Johnson’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts predict that Johnson & Johnson will post 10.65 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 21st will be paid a $1.24 dividend. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 annualized dividend and a yield of 3.35%. The ex-dividend date is Monday, May 20th. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on JNJ shares. HSBC raised Johnson & Johnson from a “hold” rating to a “buy” rating and increased their price target for the stock from $169.00 to $170.00 in a research note on Thursday. Morgan Stanley decreased their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank of Canada cut their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Raymond James upped their price objective on Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

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 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.