VELA Investment Management LLC Acquires 21,371 Shares of Johnson & Johnson (NYSE:JNJ)

VELA Investment Management LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 212.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,434 shares of the company’s stock after buying an additional 21,371 shares during the quarter. Johnson & Johnson comprises 1.4% of VELA Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. VELA Investment Management LLC’s holdings in Johnson & Johnson were worth $4,594,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of JNJ. Innealta Capital LLC bought a new stake in Johnson & Johnson in the 2nd quarter valued at $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of Johnson & Johnson in the first quarter valued at about $31,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson during the second quarter worth about $43,000. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson in the 4th quarter valued at approximately $44,000. Finally, Grayhawk Investment Strategies Inc. lifted its position in shares of Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after acquiring an additional 259 shares during the period. 69.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on JNJ shares. Morgan Stanley boosted their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday. TD Cowen cut their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Buying and Selling at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the business’s 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 completion of the sale, the vice president now directly owns 18,973 shares of the company’s stock, valued at $3,131,683.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.4 %

Shares of NYSE JNJ opened at $164.38 on Friday. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85. The company has a 50-day moving average of $157.57 and a two-hundred day moving average of $153.81. The company has a market cap of $395.61 billion, a PE ratio of 10.25, a P/E/G ratio of 2.73 and a beta of 0.53. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44.

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

Johnson & Johnson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

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.