Keene & Associates Inc. Has $2.79 Million Stake in Johnson & Johnson (NYSE:JNJ)

Keene & Associates Inc. increased its position in shares of Johnson & Johnson (NYSE:JNJ) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,063 shares of the company’s stock after purchasing an additional 189 shares during the period. Johnson & Johnson makes up about 2.3% of Keene & Associates Inc.’s portfolio, making the stock its 28th biggest holding. Keene & Associates Inc.’s holdings in Johnson & Johnson were worth $2,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Black Diamond Financial LLC boosted its position in shares of Johnson & Johnson by 86.4% in the second quarter. Black Diamond Financial LLC now owns 2,747 shares of the company’s stock valued at $401,000 after acquiring an additional 1,273 shares during the period. Angeles Investment Advisors LLC boosted its holdings in Johnson & Johnson by 2.2% in the 2nd quarter. Angeles Investment Advisors LLC now owns 5,797 shares of the company’s stock valued at $847,000 after purchasing an additional 123 shares during the period. Greenwich Wealth Management LLC grew its position in shares of Johnson & Johnson by 2.1% during the 2nd quarter. Greenwich Wealth Management LLC now owns 3,267 shares of the company’s stock worth $478,000 after purchasing an additional 68 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in shares of Johnson & Johnson during the second quarter worth approximately $46,000. Finally, Tennessee Valley Asset Management Partners boosted its stake in shares of Johnson & Johnson by 48.6% in the second quarter. Tennessee Valley Asset Management Partners now owns 2,969 shares of the company’s stock valued at $434,000 after buying an additional 971 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

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 dated Friday, August 30th. The stock was sold at an average price of $165.06, for a total transaction of $930,113.10. Following the transaction, the vice president now directly owns 18,973 shares of the company’s stock, valued at approximately $3,131,683.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JNJ has been the subject of several analyst reports. The Goldman Sachs Group dropped their price objective on Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Daiwa Capital Markets cut shares of Johnson & Johnson from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Morgan Stanley raised their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Sanford C. Bernstein increased their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a research report on Thursday, July 18th. Finally, TD Cowen lowered their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

Johnson & Johnson Price Performance

Johnson & Johnson stock opened at $165.52 on Monday. The company has a market capitalization of $398.45 billion, a PE ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average price of $159.55 and a two-hundred day moving average price of $153.94. Johnson & Johnson has a 12 month low of $143.13 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, July 17th. The company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.71 by $0.11. Johnson & Johnson had a net margin of 46.34% and a return on equity of 36.60%. The business had revenue of $22.45 billion for the quarter, compared to the consensus estimate of $22.33 billion. During the same period last year, the company earned $2.80 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Analysts expect that Johnson & Johnson will post 10.02 EPS for the current year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were paid a $1.24 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.00%. Johnson & Johnson’s dividend payout ratio is 30.92%.

Johnson & Johnson 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.