PineStone Asset Management Inc. Increases Stock Position in Johnson & Johnson (NYSE:JNJ)

PineStone Asset Management Inc. grew its position in shares of Johnson & Johnson (NYSE:JNJ) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,959,872 shares of the company’s stock after purchasing an additional 225,489 shares during the quarter. Johnson & Johnson makes up about 2.7% of PineStone Asset Management Inc.’s holdings, making the stock its 15th largest position. PineStone Asset Management Inc. owned 0.08% of Johnson & Johnson worth $283,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFS Advisors LLC raised its stake in Johnson & Johnson by 138.9% during the 4th quarter. IFS Advisors LLC now owns 172 shares of the company’s stock valued at $25,000 after acquiring an additional 100 shares during the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of Johnson & Johnson during the third quarter worth $31,000. Bay Harbor Wealth Management LLC purchased a new position in Johnson & Johnson in the 4th quarter valued at $32,000. RPg Family Wealth Advisory LLC acquired a new position in Johnson & Johnson in the 3rd quarter valued at $35,000. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Johnson & Johnson by 58.7% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock worth $40,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Trading Down 0.7 %

NYSE:JNJ opened at $155.04 on Wednesday. The company has a market cap of $373.27 billion, a PE ratio of 23.31, a P/E/G ratio of 2.46 and a beta of 0.52. The business’s 50 day moving average is $148.00 and its two-hundred day moving average is $155.91. The company has a quick ratio of 0.79, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.35%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 earnings per share. On average, analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.20%. Johnson & Johnson’s dividend payout ratio is currently 74.59%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JNJ shares. Bank of America cut their price target on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Stifel Nicolaus reduced their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Barclays upped their price objective on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $181.00 price target on shares of Johnson & Johnson in a report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.67.

Insider Activity

In other news, Director Mark A. Weinberger purchased 1,000 shares of Johnson & Johnson stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Schmid sold 403 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at $2,357,552.70. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

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.