Elefante Mark B Makes New $2.71 Million Investment in Johnson & Johnson (NYSE:JNJ)

Elefante Mark B acquired a new position in shares of Johnson & Johnson (NYSE:JNJ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 18,738 shares of the company's stock, valued at approximately $2,710,000. Johnson & Johnson comprises about 2.5% of Elefante Mark B's portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Johnson & Johnson by 10.5% in the third quarter. Principal Financial Group Inc. now owns 3,472,312 shares of the company's stock valued at $562,723,000 after buying an additional 329,473 shares in the last quarter. Ridgewood Investments LLC lifted its position in shares of Johnson & Johnson by 14.9% in the fourth quarter. Ridgewood Investments LLC now owns 4,373 shares of the company's stock worth $632,000 after purchasing an additional 568 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Johnson & Johnson by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 49,879 shares of the company's stock worth $7,214,000 after purchasing an additional 1,224 shares in the last quarter. Sage Capital Advisors llc lifted its position in shares of Johnson & Johnson by 0.5% in the fourth quarter. Sage Capital Advisors llc now owns 43,731 shares of the company's stock worth $6,324,000 after purchasing an additional 230 shares in the last quarter. Finally, Jacobs & Co. CA lifted its position in shares of Johnson & Johnson by 0.3% in the fourth quarter. Jacobs & Co. CA now owns 56,569 shares of the company's stock worth $8,181,000 after purchasing an additional 179 shares in the last quarter. Institutional investors own 69.55% of the company's stock.

Johnson & Johnson Price Performance

Johnson & Johnson stock traded down $4.73 during trading hours on Tuesday, reaching $149.41. 6,468,964 shares of the stock were exchanged, compared to its average volume of 7,899,913. The company has a market cap of $359.49 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 2.56 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The stock has a 50 day moving average of $157.67 and a two-hundred day moving average of $154.18.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.18. The firm had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. Equities analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 27th will be paid a $1.30 dividend. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio (DPR) is presently 57.84%.

Insider Activity

In related news, EVP Timothy Schmid sold 403 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the completion of the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. This trade represents a 2.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the completion of the transaction, the vice president now owns 21,001 shares of the company's stock, valued at approximately $3,483,645.88. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the company. Bank of America reduced their price target on Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Morgan Stanley increased their price target on Johnson & Johnson from $164.00 to $169.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 16th. Raymond James dropped their price target on shares of Johnson & Johnson from $165.00 to $162.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Guggenheim reissued a "neutral" rating on shares of Johnson & Johnson in a research report on Wednesday, April 2nd. Finally, Barclays dropped their price objective on shares of Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $170.88.

Johnson & Johnson Company 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.