Summit X LLC Has $745,000 Stock Position in Johnson & Johnson (NYSE:JNJ)

Summit X LLC boosted its position in Johnson & Johnson (NYSE:JNJ) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,153 shares of the company’s stock after purchasing an additional 87 shares during the period. Summit X LLC’s holdings in Johnson & Johnson were worth $745,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of JNJ. State Street Corp raised its holdings in Johnson & Johnson by 0.9% in the 3rd quarter. State Street Corp now owns 134,245,811 shares of the company’s stock valued at $21,755,874,000 after acquiring an additional 1,154,088 shares during the period. Geode Capital Management LLC raised its holdings in Johnson & Johnson by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 56,106,884 shares of the company’s stock valued at $9,064,149,000 after acquiring an additional 1,004,763 shares during the period. FMR LLC raised its holdings in Johnson & Johnson by 7.4% in the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock valued at $2,968,440,000 after acquiring an additional 1,265,748 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Johnson & Johnson by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 18,187,082 shares of the company’s stock valued at $2,630,216,000 after acquiring an additional 547,714 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Johnson & Johnson by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JNJ shares. Wolfe Research started coverage on shares of Johnson & Johnson in a report on Friday, November 15th. They issued an “outperform” rating and a $190.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday, February 19th. Guggenheim reaffirmed a “neutral” rating on shares of Johnson & Johnson in a report on Monday. Morgan Stanley lowered their target price on shares of Johnson & Johnson from $175.00 to $163.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Leerink Partners lowered their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Nine 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’s stock. Based on data from MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average target price of $171.33.

Johnson & Johnson Price Performance

Shares of NYSE:JNJ opened at $165.86 on Wednesday. The firm has a market cap of $399.33 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.56 and a beta of 0.47. The firm’s fifty day moving average is $153.86 and its 200-day moving average is $156.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.86 and a current ratio of 1.11. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

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

Johnson & Johnson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $1.24 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 74.59%.

Insider Transactions at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the transaction, the vice president now owns 21,001 shares in the company, valued at $3,483,645.88. The trade was a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Weinberger bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $147,220. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is owned by company insiders.

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.