Johnson & Johnson $JNJ Stake Lifted by Ardent Capital Management Inc.

Ardent Capital Management Inc. raised its position in shares of Johnson & Johnson (NYSE:JNJ) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,889 shares of the company’s stock after purchasing an additional 4,115 shares during the period. Johnson & Johnson comprises 11.1% of Ardent Capital Management Inc.’s portfolio, making the stock its 2nd biggest position. Ardent Capital Management Inc.’s holdings in Johnson & Johnson were worth $23,201,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GFG Capital LLC purchased a new stake in Johnson & Johnson in the second quarter worth about $35,000. Stone House Investment Management LLC bought a new stake in shares of Johnson & Johnson in the 1st quarter valued at about $47,000. 1248 Management LLC purchased a new stake in shares of Johnson & Johnson in the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. bought a new position in shares of Johnson & Johnson during the first quarter valued at approximately $49,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Johnson & Johnson during the first quarter valued at approximately $52,000. Institutional investors own 69.55% of the company’s stock.

Insider Activity

In other news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president directly owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Trading Down 0.9%

Johnson & Johnson stock opened at $191.93 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.76 and a current ratio of 1.01. The stock has a market cap of $462.23 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 2.28 and a beta of 0.40. The stock has a 50-day moving average of $181.27 and a two-hundred day moving average of $165.37. Johnson & Johnson has a one year low of $140.68 and a one year high of $194.48.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share for the quarter. The business had revenue of $24.02 billion for the quarter. Johnson & Johnson had a return on equity of 33.08% and a net margin of 27.26%. On average, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, November 25th. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. Johnson & Johnson’s dividend payout ratio is presently 50.19%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JNJ. Argus set a $210.00 target price on Johnson & Johnson in a report on Wednesday, October 15th. Daiwa Capital Markets upgraded Johnson & Johnson from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a research note on Monday. Barclays raised their price objective on Johnson & Johnson from $165.00 to $176.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. increased their price target on shares of Johnson & Johnson from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, September 16th. Finally, Citigroup raised their price target on shares of Johnson & Johnson from $213.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Johnson & Johnson has an average rating of “Moderate Buy” and an average price target of $200.06.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.