Kimelman & Baird LLC Makes New $1.52 Million Investment in Johnson & Johnson (NYSE:JNJ)

Kimelman & Baird LLC bought a new stake in Johnson & Johnson (NYSE:JNJ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,396 shares of the company’s stock, valued at approximately $1,519,000.

A number of other hedge funds have also recently modified their holdings of JNJ. Wellington Management Group LLP grew its holdings in shares of Johnson & Johnson by 16.4% during the fourth quarter. Wellington Management Group LLP now owns 24,019,725 shares of the company’s stock worth $3,764,852,000 after purchasing an additional 3,391,657 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Johnson & Johnson by 16.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,834,359 shares of the company’s stock worth $3,453,978,000 after buying an additional 3,139,499 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Johnson & Johnson by 10.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 18,780,645 shares of the company’s stock valued at $2,744,979,000 after acquiring an additional 1,831,751 shares during the period. Ameriprise Financial Inc. grew its position in Johnson & Johnson by 5.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,374,397 shares of the company’s stock worth $2,100,427,000 after purchasing an additional 754,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Johnson & Johnson by 16.2% during the second quarter. Dimensional Fund Advisors LP now owns 13,147,352 shares of the company’s stock worth $1,921,565,000 after purchasing an additional 1,829,257 shares during the period. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.0 %

JNJ stock opened at $161.40 on Monday. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The company has a market cap of $388.44 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 2.69 and a beta of 0.53. The business has a fifty day simple moving average of $162.15 and a 200-day simple moving average of $154.16. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. Johnson & Johnson’s payout ratio is currently 30.92%.

Insiders Place Their Bets

In other news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on JNJ shares. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, September 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 14th. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Finally, Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

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.