Keene & Associates Inc. Has $2.79 Million Stake in Johnson & Johnson (NYSE:JNJ)

Keene & Associates Inc. lifted its holdings in Johnson & Johnson (NYSE:JNJ) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,063 shares of the company’s stock after buying an additional 189 shares during the period. Johnson & Johnson comprises approximately 2.3% of Keene & Associates Inc.’s holdings, making the stock its 28th largest position. Keene & Associates Inc.’s holdings in Johnson & Johnson were worth $2,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JNJ. Innealta Capital LLC acquired a new position in Johnson & Johnson in the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of Johnson & Johnson during the 1st quarter valued at $31,000. Vermillion & White Wealth Management Group LLC bought a new position in Johnson & Johnson during the fourth quarter worth $44,000. MFA Wealth Advisors LLC acquired a new stake in Johnson & Johnson in the second quarter worth $43,000. Finally, Grayhawk Investment Strategies Inc. increased its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. 69.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $930,113.10. Following the sale, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $165.52 on Monday. The stock has a market cap of $398.45 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. 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’s 50 day moving average price is $159.55 and its two-hundred day moving average price is $153.94. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

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 business had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The business’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.80 earnings per share. On average, equities analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Sanford C. Bernstein raised their target price on Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. TD Cowen reduced their price objective on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research report on Tuesday, July 30th. Finally, TD Securities lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Johnson & Johnson presently has an average rating of “Moderate Buy” and a consensus price target 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.