Truepoint Inc. Increases Position in Johnson & Johnson (NYSE:JNJ)

Truepoint Inc. lifted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 26.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,899 shares of the company’s stock after acquiring an additional 1,038 shares during the quarter. Truepoint Inc.’s holdings in Johnson & Johnson were worth $794,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of JNJ. China Universal Asset Management Co. Ltd. acquired a new position in Johnson & Johnson in the first quarter worth about $765,000. Lavaca Capital LLC increased its position in Johnson & Johnson by 1.3% in the first quarter. Lavaca Capital LLC now owns 6,418 shares of the company’s stock worth $1,015,000 after buying an additional 85 shares during the period. Kinloch Capital LLC increased its holdings in shares of Johnson & Johnson by 13.8% in the 1st quarter. Kinloch Capital LLC now owns 16,009 shares of the company’s stock worth $2,532,000 after acquiring an additional 1,944 shares during the period. Waverly Advisors LLC increased its holdings in shares of Johnson & Johnson by 30.1% in the 1st quarter. Waverly Advisors LLC now owns 100,631 shares of the company’s stock worth $15,919,000 after acquiring an additional 23,297 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of Johnson & Johnson in the 1st quarter worth about $3,275,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 5,635 shares of the firm’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 transaction, the vice president now owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. This trade represents a 22.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Guggenheim increased their price objective on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 16th. Citigroup raised their target price on shares of Johnson & Johnson from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.94.

Johnson & Johnson Stock Performance

Shares of JNJ opened at $155.17 on Friday. Johnson & Johnson has a one year low of $143.13 and a one year high of $168.85. The company has a 50-day moving average of $160.21 and a two-hundred day moving average of $156.26. The stock has a market cap of $373.59 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.76 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Tuesday, October 15th. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.21 by $0.21. The business had revenue of $22.47 billion during the quarter, compared to analysts’ expectations of $22.17 billion. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $2.66 earnings per share. On average, equities research analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, November 26th. Johnson & Johnson’s payout ratio is presently 71.78%.

About Johnson & Johnson

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.