Tevis Investment Management Purchases 3,895 Shares of Johnson & Johnson (NYSE:JNJ)

Tevis Investment Management increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 31.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 16,450 shares of the company’s stock after buying an additional 3,895 shares during the period. Johnson & Johnson makes up 1.9% of Tevis Investment Management’s holdings, making the stock its 13th biggest holding. Tevis Investment Management’s holdings in Johnson & Johnson were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of JNJ. Pathway Financial Advisors LLC lifted its stake in shares of Johnson & Johnson by 4.3% in the 4th quarter. Pathway Financial Advisors LLC now owns 5,438 shares of the company’s stock valued at $852,000 after purchasing an additional 226 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Johnson & Johnson by 5.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 297,850 shares of the company’s stock worth $46,685,000 after buying an additional 15,490 shares in the last quarter. Drive Wealth Management LLC grew its position in shares of Johnson & Johnson by 4.5% during the 1st quarter. Drive Wealth Management LLC now owns 9,625 shares of the company’s stock worth $1,523,000 after buying an additional 414 shares during the period. Vestmark Advisory Solutions Inc. increased its stake in shares of Johnson & Johnson by 12.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 19,587 shares of the company’s stock valued at $3,070,000 after acquiring an additional 2,201 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Johnson & Johnson by 4.9% during the fourth quarter. California Public Employees Retirement System now owns 10,620,264 shares of the company’s stock worth $1,664,620,000 after acquiring an additional 498,647 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Johnson & Johnson Stock Up 1.1 %

Shares of NYSE:JNJ opened at $164.10 on Friday. Johnson & Johnson has a 1 year low of $143.13 and a 1 year high of $167.78. The company has a market capitalization of $394.94 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.52. The business has a fifty day moving average price of $153.92 and a two-hundred day moving average price of $153.27. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 0.85.

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, beating the consensus estimate of $2.71 by $0.11. The company had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.80 earnings per share. Analysts forecast that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.02%. Johnson & Johnson’s payout ratio is 30.92%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Securities dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. TD Cowen cut their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. The Goldman Sachs Group decreased their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $173.21.

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.