Mattern Capital Management LLC Increases Holdings in Johnson & Johnson (NYSE:JNJ)

Mattern Capital Management LLC increased its stake in Johnson & Johnson (NYSE:JNJ) by 6.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 48,191 shares of the company’s stock after buying an additional 3,091 shares during the quarter. Mattern Capital Management LLC’s holdings in Johnson & Johnson were worth $7,623,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in JNJ. Christopher J. Hasenberg Inc bought a new stake in Johnson & Johnson in the 1st quarter valued at about $31,000. Keener Financial Planning LLC purchased a new stake in shares of Johnson & Johnson during the 4th quarter valued at approximately $40,000. WFA Asset Management Corp grew its stake in Johnson & Johnson by 61.4% in the 4th quarter. WFA Asset Management Corp now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 97 shares in the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Johnson & Johnson during the 4th quarter valued at $44,000. Finally, Disciplined Equity Management Inc. bought a new position in shares of Johnson & Johnson in the fourth quarter worth $45,000. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JNJ. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Johnson & Johnson in a report on Thursday, July 18th. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 30th. TD Securities decreased their target price on shares of Johnson & Johnson from $195.00 to $185.00 in a report on Thursday, July 18th. The Goldman Sachs Group cut their price target on shares of Johnson & Johnson from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Finally, Sanford C. Bernstein upped their price target on shares of Johnson & Johnson from $161.00 to $171.00 in a report on Thursday, July 18th. Eight investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.00.

Johnson & Johnson Price Performance

Shares of JNJ stock traded up $3.42 during trading hours on Thursday, hitting $159.70. 10,014,267 shares of the company’s stock were exchanged, compared to its average volume of 7,340,644. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $175.97. The company has a market capitalization of $384.35 billion, a PE ratio of 9.96, a PEG ratio of 2.49 and a beta of 0.52. The business’s 50 day simple moving average is $148.62 and its 200-day simple moving average is $153.25. The company has a current ratio of 1.17, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Johnson & Johnson (NYSE:JNJ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share 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 36.79%. The business had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Johnson & Johnson will post 10.07 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $4.96 annualized dividend and a yield of 3.11%. Johnson & Johnson’s payout ratio is currently 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.