Davis Capital Management Acquires 441 Shares of Johnson & Johnson (NYSE:JNJ)

Davis Capital Management boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,432 shares of the company’s stock after buying an additional 441 shares during the period. Johnson & Johnson makes up approximately 1.3% of Davis Capital Management’s holdings, making the stock its 23rd biggest holding. Davis Capital Management’s holdings in Johnson & Johnson were worth $1,691,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Meridian Financial Partners LLC acquired a new position in Johnson & Johnson in the 2nd quarter worth $1,626,000. Summit Financial Wealth Advisors LLC raised its position in Johnson & Johnson by 26.3% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 5,392 shares of the company’s stock valued at $853,000 after buying an additional 1,122 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC lifted its stake in Johnson & Johnson by 0.7% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,186 shares of the company’s stock valued at $7,464,000 after acquiring an additional 325 shares in the last quarter. Capital Asset Advisory Services LLC boosted its position in Johnson & Johnson by 8.8% during the 1st quarter. Capital Asset Advisory Services LLC now owns 26,539 shares of the company’s stock worth $4,044,000 after acquiring an additional 2,151 shares during the last quarter. Finally, NTV Asset Management LLC raised its holdings in shares of Johnson & Johnson by 1.6% in the first quarter. NTV Asset Management LLC now owns 36,000 shares of the company’s stock valued at $5,695,000 after purchasing an additional 565 shares during the last quarter. Institutional investors own 69.55% of the company’s stock.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the completion of the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Price Performance

Shares of NYSE JNJ opened at $161.17 on Thursday. The firm has a market cap of $387.88 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 2.69 and a beta of 0.53. The business’s 50 day moving average is $162.60 and its 200-day moving average is $154.26. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings data 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. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.80 EPS. Equities research analysts predict that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.08%. Johnson & Johnson’s payout ratio is 30.92%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JNJ shares. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Monday. TD Cowen lowered their target price on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. TD Securities cut their price target on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. The Goldman Sachs Group lowered their price objective on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Finally, Daiwa America cut Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Johnson & Johnson currently has a consensus rating of “Moderate Buy” and a consensus target price 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.