M.E. Allison & CO. Inc. Takes $1.01 Million Position in Johnson & Johnson (NYSE:JNJ)

M.E. Allison & CO. Inc. acquired a new stake in Johnson & Johnson (NYSE:JNJ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,999 shares of the company’s stock, valued at approximately $1,012,000. Johnson & Johnson comprises about 1.1% of M.E. Allison & CO. Inc.’s portfolio, making the stock its 23rd largest position.

Several other hedge funds also recently added to or reduced their stakes in JNJ. Pine Haven Investment Counsel Inc increased its position in shares of Johnson & Johnson by 1.6% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 8,801 shares of the company’s stock valued at $1,273,000 after acquiring an additional 142 shares during the last quarter. Diversify Wealth Management LLC increased its holdings in Johnson & Johnson by 68.2% in the 4th quarter. Diversify Wealth Management LLC now owns 19,691 shares of the company’s stock valued at $2,797,000 after purchasing an additional 7,982 shares during the last quarter. LVW Advisors LLC raised its position in Johnson & Johnson by 12.6% in the fourth quarter. LVW Advisors LLC now owns 21,517 shares of the company’s stock valued at $3,112,000 after purchasing an additional 2,406 shares during the period. Gilman Hill Asset Management LLC lifted its stake in Johnson & Johnson by 23.0% during the fourth quarter. Gilman Hill Asset Management LLC now owns 17,634 shares of the company’s stock worth $2,550,000 after purchasing an additional 3,293 shares in the last quarter. Finally, Smart Money Group LLC grew its stake in shares of Johnson & Johnson by 2.8% in the fourth quarter. Smart Money Group LLC now owns 6,280 shares of the company’s stock valued at $908,000 after buying an additional 174 shares in the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of JNJ opened at $148.10 on Wednesday. The firm has a fifty day moving average price of $148.35 and a 200 day moving average price of $156.11. The stock has a market cap of $356.57 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 2.39 and a beta of 0.51. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $168.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.03 and a quick ratio of 0.79.

Johnson & Johnson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.24 per share. The ex-dividend date is Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a yield of 3.35%. Johnson & Johnson’s dividend payout ratio is presently 71.78%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JNJ. Guggenheim upped their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Royal Bank of Canada increased their price objective on Johnson & Johnson from $178.00 to $181.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company upped their target price on shares of Johnson & Johnson from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.27.

Insiders Place Their Bets

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at $147,220. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson 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.