Mattern Capital Management LLC Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Mattern Capital Management LLC grew its holdings in Johnson & Johnson (NYSE:JNJ) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,191 shares of the company’s stock after purchasing an additional 3,091 shares during the period. Mattern Capital Management LLC’s holdings in Johnson & Johnson were worth $7,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of JNJ. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson in the first quarter valued at $31,000. Keener Financial Planning LLC purchased a new stake in Johnson & Johnson during the fourth quarter worth about $40,000. WFA Asset Management Corp lifted its position in shares of Johnson & Johnson by 61.4% during the fourth quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock worth $40,000 after purchasing an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the fourth quarter valued at approximately $44,000. Finally, Disciplined Equity Management Inc. purchased a new stake in Johnson & Johnson during the 4th quarter worth approximately $45,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JNJ. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Johnson & Johnson in a research note on Thursday, July 18th. HSBC upgraded Johnson & Johnson from a “hold” rating to a “buy” rating and upped their price target for the stock from $169.00 to $170.00 in a report on Thursday, April 18th. Daiwa America downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. TD Securities cut their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research note on Thursday, July 18th. 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. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.00.

Johnson & Johnson Stock Performance

NYSE JNJ traded up $3.42 during trading hours on Thursday, hitting $159.70. The company had a trading volume of 10,014,267 shares, compared to its average volume of 7,340,644. The business has a 50 day moving average of $148.62 and a 200-day moving average of $153.25. The company has a market cap of $384.35 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 2.49 and a beta of 0.52. Johnson & Johnson has a 1-year low of $143.13 and a 1-year high of $175.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 1.17.

Johnson & Johnson (NYSE:JNJ) last announced its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to analysts’ expectations of $22.33 billion. Johnson & Johnson had a return on equity of 36.79% and a net margin of 46.34%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.80 EPS. As a group, equities research analysts expect that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given 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 3.11%. Johnson & Johnson’s dividend payout ratio (DPR) is 30.92%.

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.