Tennessee Valley Asset Management Partners Invests $577,000 in Johnson & Johnson $JNJ

Tennessee Valley Asset Management Partners acquired a new stake in Johnson & Johnson (NYSE:JNJ) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,111 shares of the company’s stock, valued at approximately $577,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SageView Advisory Group LLC boosted its position in Johnson & Johnson by 38.9% during the 3rd quarter. SageView Advisory Group LLC now owns 30,164 shares of the company’s stock valued at $5,593,000 after acquiring an additional 8,453 shares in the last quarter. Kepler Cheuvreux Suisse SA purchased a new position in Johnson & Johnson in the third quarter valued at about $15,448,000. Beese Fulmer Investment Management Inc. lifted its position in shares of Johnson & Johnson by 3.0% during the third quarter. Beese Fulmer Investment Management Inc. now owns 136,199 shares of the company’s stock valued at $25,254,000 after buying an additional 3,967 shares during the last quarter. Nemes Rush Group LLC boosted its holdings in shares of Johnson & Johnson by 1.5% in the 3rd quarter. Nemes Rush Group LLC now owns 95,129 shares of the company’s stock valued at $17,639,000 after buying an additional 1,399 shares in the last quarter. Finally, Brentview Investment Management LLC grew its position in shares of Johnson & Johnson by 25.5% in the 3rd quarter. Brentview Investment Management LLC now owns 26,266 shares of the company’s stock worth $4,870,000 after buying an additional 5,337 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on JNJ shares. HSBC boosted their price objective on shares of Johnson & Johnson from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Freedom Capital downgraded Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Bank of America reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Monday, March 2nd. Wall Street Zen downgraded Johnson & Johnson from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, TD Cowen increased their price target on Johnson & Johnson from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.91.

Johnson & Johnson Trading Down 0.3%

Shares of NYSE:JNJ opened at $243.06 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Johnson & Johnson has a 52-week low of $141.50 and a 52-week high of $251.71. The stock has a market cap of $585.75 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 2.41 and a beta of 0.34. The business has a 50-day moving average price of $230.52 and a 200-day moving average price of $205.54.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Saturday, January 31st. The company reported $2.46 EPS for the quarter. Johnson & Johnson had a return on equity of 33.04% and a net margin of 28.46%.The firm had revenue of $24.28 billion for the quarter. Equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, February 24th. Johnson & Johnson’s dividend payout ratio (DPR) is 47.06%.

Insiders Place Their Bets

In other news, EVP Vanessa Broadhurst sold 6,197 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $243.39, for a total value of $1,508,287.83. Following the sale, the executive vice president owned 23,003 shares in the company, valued at $5,598,700.17. This represents a 21.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Schmid sold 22,623 shares of Johnson & Johnson stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $244.33, for a total value of $5,527,477.59. Following the transaction, the executive vice president owned 26,769 shares of the company’s stock, valued at approximately $6,540,469.77. This represents a 45.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 30,142 shares of company stock valued at $7,360,528 over the last 90 days. 0.16% of the stock is currently owned by insiders.

About Johnson & Johnson

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.