Donaldson Capital Management LLC Purchases 10,006 Shares of Johnson & Johnson (NYSE:JNJ)

Donaldson Capital Management LLC boosted its holdings in shares of Johnson & Johnson (NYSE:JNJ) by 3.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 338,853 shares of the company’s stock after buying an additional 10,006 shares during the period. Johnson & Johnson makes up approximately 2.2% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 17th biggest position. Donaldson Capital Management LLC’s holdings in Johnson & Johnson were worth $53,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James & Associates raised its stake in shares of Johnson & Johnson by 5.3% during the first quarter. Raymond James & Associates now owns 6,384,341 shares of the company’s stock worth $1,009,939,000 after acquiring an additional 322,634 shares in the last quarter. Accordant Advisory Group Inc bought a new position in Johnson & Johnson during the 1st quarter worth approximately $890,000. Lakewood Asset Management LLC increased its stake in Johnson & Johnson by 9.8% in the 1st quarter. Lakewood Asset Management LLC now owns 6,775 shares of the company’s stock worth $1,072,000 after purchasing an additional 606 shares during the period. GraniteShares Advisors LLC lifted its position in Johnson & Johnson by 7.1% in the first quarter. GraniteShares Advisors LLC now owns 13,393 shares of the company’s stock valued at $2,119,000 after purchasing an additional 889 shares during the last quarter. Finally, Everpar Advisors LLC grew its holdings in shares of Johnson & Johnson by 1.8% in the first quarter. Everpar Advisors LLC now owns 7,435 shares of the company’s stock worth $1,176,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 59,397 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 59,397 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $156.27, for a total transaction of $9,281,969.19. Following the completion of the sale, the executive vice president now directly owns 141,416 shares of the company’s stock, valued at approximately $22,099,078.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder & Johnson Johnson sold 3,725 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $25.81, for a total value of $96,142.25. Following the completion of the sale, the insider now owns 4,099,575 shares in the company, valued at $105,810,030.75. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JNJ shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a report on Monday, April 15th. Morgan Stanley lowered their price target on Johnson & Johnson from $168.00 to $167.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Royal Bank of Canada cut their price objective on Johnson & Johnson from $181.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Raymond James lifted their price target on shares of Johnson & Johnson from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 3rd. Seven research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.86.

Johnson & Johnson Stock Performance

NYSE JNJ traded down $0.68 during trading hours on Friday, hitting $146.14. The company’s stock had a trading volume of 6,182,982 shares, compared to its average volume of 7,728,638. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.16 and a quick ratio of 0.91. The company has a market cap of $352.17 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 2.42 and a beta of 0.53. The company’s 50 day simple moving average is $155.26 and its two-hundred day simple moving average is $155.32. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $175.97.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.07. The company had revenue of $21.38 billion for the quarter, compared to analysts’ expectations of $21.39 billion. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.43%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.68 earnings per share. As a group, sell-side analysts expect that Johnson & Johnson will post 10.65 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 21st will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 3.39%. This is a boost from Johnson & Johnson’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend payout ratio (DPR) is presently 29.68%.

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.