Keynote Financial Services LLC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Keynote Financial Services LLC purchased a new stake in Johnson & Johnson (NYSE:JNJ) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,193 shares of the company’s stock, valued at approximately $1,612,000. Johnson & Johnson accounts for approximately 1.4% of Keynote Financial Services LLC’s holdings, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in JNJ. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $31,000. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson in the 4th quarter valued at approximately $40,000. WFA Asset Management Corp lifted its stake in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after acquiring an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Johnson & Johnson during the 4th quarter worth approximately $44,000. Finally, Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson during the 4th quarter worth approximately $45,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ traded up $3.38 during trading hours on Friday, reaching $164.14. 11,280,357 shares of the stock were exchanged, compared to its average volume of 7,234,699. The stock’s fifty day simple moving average is $149.73 and its 200 day simple moving average is $153.14. The firm has a market capitalization of $395.12 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 2.63 and a beta of 0.52. Johnson & Johnson has a 52 week low of $143.13 and a 52 week high of $175.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.85 and a current ratio of 1.07.

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. Sell-side analysts predict that Johnson & Johnson will post 10.07 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a dividend of $1.24 per share. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.02%. Johnson & Johnson’s payout ratio is presently 30.92%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JNJ. The Goldman Sachs Group reduced their target price on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Bank of America decreased their price objective on Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Morgan Stanley increased their price objective on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 30th. Finally, Daiwa America lowered shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Eight 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.00.

Johnson & Johnson Profile

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.