Saratoga Research & Investment Management Purchases 112,234 Shares of Johnson & Johnson (NYSE:JNJ)

Saratoga Research & Investment Management lifted its position in Johnson & Johnson (NYSE:JNJ) by 25.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,753 shares of the company’s stock after acquiring an additional 112,234 shares during the quarter. Johnson & Johnson accounts for approximately 3.7% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 11th largest holding. Saratoga Research & Investment Management’s holdings in Johnson & Johnson were worth $80,644,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Johnson & Johnson during the second quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Johnson & Johnson in the 4th quarter valued at about $44,000. MFA Wealth Advisors LLC bought a new position in shares of Johnson & Johnson during the 2nd quarter worth approximately $43,000. Grayhawk Investment Strategies Inc. boosted its stake in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after acquiring an additional 259 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Johnson & Johnson in the 2nd quarter worth $46,000. 69.55% of the stock is currently owned by institutional investors.

Johnson & Johnson Stock Performance

Shares of Johnson & Johnson stock opened at $161.40 on Monday. The business’s fifty day simple moving average is $162.15 and its 200-day simple moving average is $154.16. 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 market cap of $388.44 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $168.85.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $22.33 billion. During the same period last year, the business earned $2.80 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts forecast that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.07%. Johnson & Johnson’s dividend payout ratio is currently 30.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JNJ. Morgan Stanley lifted their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Johnson & Johnson in a research note on Friday, September 20th. TD Cowen decreased their target price on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. The Goldman Sachs Group cut their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Finally, Daiwa Capital Markets downgraded 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, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.21.

Insider Activity

In related news, VP Robert J. Decker sold 5,635 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company’s stock.

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.