Firestone Capital Management Raises Holdings in Johnson & Johnson (NYSE:JNJ)

Firestone Capital Management boosted its stake in shares of Johnson & Johnson (NYSE:JNJ) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,540 shares of the company’s stock after acquiring an additional 76 shares during the quarter. Firestone Capital Management’s holdings in Johnson & Johnson were worth $664,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in Johnson & Johnson during the second quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of Johnson & Johnson during the 1st quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Johnson & Johnson in the 4th quarter valued at about $44,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the second quarter worth approximately $43,000. Finally, Grayhawk Investment Strategies Inc. grew its holdings in Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after purchasing an additional 259 shares during the period. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JNJ. The Goldman Sachs Group decreased their target price on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. TD Securities dropped their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a research report on Thursday, July 18th. Daiwa America downgraded shares of Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Morgan Stanley increased their target price on Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction on Friday, August 30th. The stock was sold at an average price of $165.06, for a total value of $930,113.10. Following the sale, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Johnson & Johnson Stock Up 0.9 %

Shares of NYSE:JNJ opened at $167.02 on Tuesday. Johnson & Johnson has a 52-week low of $143.13 and a 52-week high of $168.85. The stock has a market cap of $401.96 billion, a P/E ratio of 10.41, a PEG ratio of 2.71 and a beta of 0.53. The business has a fifty day moving average of $159.98 and a two-hundred day moving average of $153.98. The company has a quick ratio of 0.85, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The firm had revenue of $22.45 billion during the quarter, compared to analyst estimates of $22.33 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts expect that Johnson & Johnson will post 10.02 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 27th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, August 27th. Johnson & Johnson’s payout ratio is presently 30.92%.

Johnson & Johnson Company Profile

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.