Hayek Kallen Investment Management Grows Position in Johnson & Johnson (NYSE:JNJ)

Hayek Kallen Investment Management grew its position in Johnson & Johnson (NYSE:JNJ) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,420 shares of the company’s stock after acquiring an additional 1,007 shares during the quarter. Johnson & Johnson comprises approximately 2.0% of Hayek Kallen Investment Management’s portfolio, making the stock its 14th biggest position. Hayek Kallen Investment Management’s holdings in Johnson & Johnson were worth $5,469,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson during the first quarter worth $31,000. WFA Asset Management Corp increased its stake 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 acquiring an additional 97 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in Johnson & Johnson during the fourth quarter worth about $44,000. Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson in the fourth quarter valued at about $45,000. Finally, Grayhawk Investment Strategies Inc. boosted its holdings in Johnson & Johnson by 528.6% in the 4th quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock traded up $0.30 during trading on Friday, hitting $159.39. 5,012,774 shares of the company were exchanged, compared to its average volume of 7,341,345. The firm has a 50 day moving average price of $152.38 and a 200 day moving average price of $153.14. The stock has a market capitalization of $383.60 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.63 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Johnson & Johnson has a fifty-two week low of $143.13 and a fifty-two week high of $175.39.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.11. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% 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 business earned $2.80 earnings per share. On average, equities analysts expect that Johnson & Johnson will post 10.07 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Tuesday, August 27th. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JNJ. Morgan Stanley raised their price target on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 target price on shares of Johnson & Johnson in a report on Monday, August 5th. TD Cowen lowered their price target on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Johnson & Johnson in a research note on Tuesday, July 30th. Finally, Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Seven 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. Based on data from MarketBeat, Johnson & Johnson has an average rating of “Moderate Buy” and a consensus price target 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.