Johnson & Johnson (NYSE:JNJ) Shares Bought by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners lifted its position in shares of Johnson & Johnson (NYSE:JNJ) by 48.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,969 shares of the company’s stock after buying an additional 971 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Johnson & Johnson were worth $434,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Citizens & Northern Corp increased its holdings in shares of Johnson & Johnson by 3.5% in the 2nd quarter. Citizens & Northern Corp now owns 1,884 shares of the company’s stock valued at $275,000 after acquiring an additional 63 shares during the last quarter. Carolinas Wealth Consulting LLC boosted its holdings in Johnson & Johnson by 0.4% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 16,861 shares of the company’s stock worth $2,643,000 after purchasing an additional 64 shares during the period. Epic Trust Investment Advisors LLC increased its stake in Johnson & Johnson by 3.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,831 shares of the company’s stock valued at $268,000 after purchasing an additional 64 shares during the last quarter. Pine Harbor Wealth Management LLC raised its holdings in shares of Johnson & Johnson by 1.9% during the second quarter. Pine Harbor Wealth Management LLC now owns 3,472 shares of the company’s stock worth $507,000 after purchasing an additional 64 shares during the period. Finally, Verity Asset Management Inc. lifted its position in shares of Johnson & Johnson by 2.0% in the 4th quarter. Verity Asset Management Inc. now owns 3,268 shares of the company’s stock worth $512,000 after buying an additional 65 shares during the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Johnson & Johnson Trading Up 0.5 %

Shares of NYSE:JNJ opened at $165.52 on Monday. The company has a 50 day moving average of $159.55 and a 200-day moving average of $153.94. 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 firm has a market cap of $398.45 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.71 and a beta of 0.53. Johnson & Johnson has a twelve month low of $143.13 and a twelve month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.11. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. During the same period in the prior year, the firm posted $2.80 earnings per share. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, analysts anticipate that Johnson & Johnson will post 10.02 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen dropped their price objective on shares of Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Daiwa Capital Markets cut Johnson & Johnson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. StockNews.com raised Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $215.00 price target on shares of Johnson & Johnson in a research report on Monday, September 9th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $173.21.

Insider Buying and Selling at Johnson & Johnson

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

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.