Convergence Investment Partners LLC Acquires 4,871 Shares of Johnson & Johnson (NYSE:JNJ)

Convergence Investment Partners LLC raised its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 54.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,811 shares of the company’s stock after acquiring an additional 4,871 shares during the quarter. Convergence Investment Partners LLC’s holdings in Johnson & Johnson were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of JNJ. Innealta Capital LLC bought a new position in shares of Johnson & Johnson in the second quarter worth $27,000. Christopher J. Hasenberg Inc bought a new position in shares of Johnson & Johnson in the first quarter worth $31,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson in the second quarter worth $43,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Johnson & Johnson in the fourth quarter worth $44,000. Finally, Grayhawk Investment Strategies Inc. increased its holdings in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock worth $48,000 after purchasing an additional 259 shares during the period. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

NYSE JNJ opened at $167.16 on Wednesday. The company has a 50-day simple moving average of $156.42 and a two-hundred day simple moving average of $153.60. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $167.81. The firm has a market cap of $402.30 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.73 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same period in the prior year, the business posted $2.80 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, equities analysts forecast that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 2.97%. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analyst Weigh In

JNJ has been the topic of several research analyst reports. Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a report on Tuesday, July 30th. TD Securities decreased their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $173.21.

Insider Transactions at Johnson & Johnson

In other news, VP Robert J. Decker sold 5,635 shares of the stock in a transaction dated 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 in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.