GAMMA Investing LLC Grows Stock Position in Johnson & Johnson $JNJ

GAMMA Investing LLC lifted its stake in Johnson & Johnson (NYSE:JNJ) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,509 shares of the company’s stock after purchasing an additional 5,142 shares during the quarter. Johnson & Johnson comprises about 0.6% of GAMMA Investing LLC’s holdings, making the stock its 26th largest holding. GAMMA Investing LLC’s holdings in Johnson & Johnson were worth $10,107,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. First Hawaiian Bank boosted its position in shares of Johnson & Johnson by 26.5% during the third quarter. First Hawaiian Bank now owns 1,879 shares of the company’s stock worth $348,000 after buying an additional 394 shares during the period. Capital Asset Advisory Services LLC raised its holdings in Johnson & Johnson by 5.1% in the third quarter. Capital Asset Advisory Services LLC now owns 27,635 shares of the company’s stock valued at $5,124,000 after acquiring an additional 1,335 shares in the last quarter. Global Wealth Strategies & Associates increased its holdings in Johnson & Johnson by 7.1% in the third quarter. Global Wealth Strategies & Associates now owns 1,809 shares of the company’s stock valued at $335,000 after buying an additional 120 shares during the last quarter. Praxis Investment Management Inc. raised its holdings in Johnson & Johnson by 10.4% during the third quarter. Praxis Investment Management Inc. now owns 54,813 shares of the company’s stock worth $10,163,000 after purchasing an additional 5,152 shares in the last quarter. Finally, Rydar Equities Inc. acquired a new stake in Johnson & Johnson during the 2nd quarter worth $870,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on JNJ. Royal Bank Of Canada raised their price target on Johnson & Johnson from $209.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Johnson & Johnson from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 16th. Daiwa Capital Markets raised Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a research note on Monday, October 20th. Morgan Stanley upped their price objective on shares of Johnson & Johnson from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, The Goldman Sachs Group raised their price objective on Johnson & Johnson from $186.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Four research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $214.41 on Tuesday. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $215.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market cap of $516.58 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.36 and a beta of 0.36. The stock’s 50 day moving average price is $196.61 and its 200 day moving average price is $177.85.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. The company had revenue of $24.02 billion during the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 32.73%. Equities research analysts anticipate that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 25th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.4%. Johnson & Johnson’s payout ratio is 50.19%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.