Convergence Investment Partners LLC Has $2.34 Million Stock Position in Johnson & Johnson (NYSE:JNJ)

Convergence Investment Partners LLC grew its position in Johnson & Johnson (NYSE:JNJ) by 13.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,191 shares of the company’s stock after buying an additional 1,897 shares during the period. Convergence Investment Partners LLC’s holdings in Johnson & Johnson were worth $2,342,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Vinva Investment Management Ltd lifted its position in shares of Johnson & Johnson by 6.8% in the third quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock worth $17,988,000 after purchasing an additional 7,110 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of Johnson & Johnson by 5.3% during the 3rd quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock worth $29,996,000 after acquiring an additional 9,309 shares during the period. Oregon Pacific Wealth Management LLC acquired a new position in shares of Johnson & Johnson in the fourth quarter valued at $949,000. Meridian Investment Counsel Inc. lifted its position in Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock worth $3,667,000 after acquiring an additional 3,710 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after buying an additional 102,502 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JNJ has been the topic of several analyst reports. Guggenheim increased their target price on Johnson & Johnson from $162.00 to $166.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley decreased their price target on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $181.00 price target on shares of Johnson & Johnson in a report on Wednesday. Citigroup dropped their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Barclays increased their price target on Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.67.

Johnson & Johnson Stock Up 1.7 %

Shares of NYSE:JNJ opened at $162.35 on Friday. The firm has a market capitalization of $390.87 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.53 and a beta of 0.52. Johnson & Johnson has a 1 year low of $140.68 and a 1 year high of $168.85. The business has a 50 day simple moving average of $148.93 and a two-hundred day simple moving average of $155.90. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $22.52 billion for the quarter, compared to the consensus estimate of $22.44 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.06%. Johnson & Johnson’s dividend payout ratio is presently 74.59%.

Insider Activity

In related news, EVP Timothy Schmid sold 403 shares of the stock in a transaction on Tuesday, February 18th. The stock was 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 directly owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Weinberger acquired 1,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.16% of the company’s stock.

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.