Studio Investment Management LLC Buys 373 Shares of Johnson & Johnson (NYSE:JNJ)

Studio Investment Management LLC grew its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,141 shares of the company’s stock after purchasing an additional 373 shares during the quarter. Johnson & Johnson makes up approximately 1.0% of Studio Investment Management LLC’s portfolio, making the stock its 29th biggest position. Studio Investment Management LLC’s holdings in Johnson & Johnson were worth $4,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Johnson & Johnson in the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc purchased a new stake in shares of Johnson & Johnson during the first quarter worth about $31,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson in the fourth quarter worth about $44,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the 2nd quarter valued at about $43,000. Finally, Grayhawk Investment Strategies Inc. raised its position in Johnson & Johnson by 528.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Price Performance

Shares of JNJ opened at $164.82 on Thursday. The company has a market capitalization of $396.67 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85. 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 firm has a 50 day moving average of $158.79 and a 200 day moving average of $153.93.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results 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. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research note on Monday. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a report on Tuesday, July 30th. Finally, Daiwa Capital Markets lowered shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $160.00 to $150.00 in a research note on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of the business’s stock in a transaction 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 in the company, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.16% of the stock is owned by insiders.

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.