Algert Global LLC Makes New $721,000 Investment in Johnson & Johnson (NYSE:JNJ)

Algert Global LLC purchased a new position in Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,452 shares of the company’s stock, valued at approximately $721,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Innealta Capital LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Johnson & Johnson during the third quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of Johnson & Johnson by 58.7% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 246 shares of the company’s stock valued at $40,000 after purchasing an additional 91 shares during the last quarter. Activest Wealth Management purchased a new position in Johnson & Johnson during the 3rd quarter worth $40,000. Finally, Morton Brown Family Wealth LLC increased its holdings in shares of Johnson & Johnson by 400.0% during the third quarter. Morton Brown Family Wealth LLC now owns 250 shares of the company’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Down 0.2 %

Shares of NYSE:JNJ opened at $155.08 on Friday. The firm has a market capitalization of $373.37 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 2.76 and a beta of 0.53. The business’s 50 day moving average price is $159.15 and its 200-day moving average price is $156.40. 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 has a 1 year low of $143.13 and a 1 year high of $168.85.

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

Johnson & Johnson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.20%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a research report on Wednesday, October 16th. Citigroup raised their price objective on Johnson & Johnson from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Royal Bank of Canada lifted their price objective on shares of Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $169.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

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.