Johnson & Johnson (NYSE:JNJ) Shares Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. raised its position in Johnson & Johnson (NYSE:JNJ) by 2.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 55,350 shares of the company’s stock after acquiring an additional 1,450 shares during the quarter. Hennessy Advisors Inc.’s holdings in Johnson & Johnson were worth $8,005,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vinva Investment Management Ltd raised its stake in Johnson & Johnson by 6.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 111,448 shares of the company’s stock valued at $17,988,000 after acquiring an additional 7,110 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of Johnson & Johnson by 5.3% during the third quarter. Financial Counselors Inc. now owns 185,093 shares of the company’s stock valued at $29,996,000 after purchasing an additional 9,309 shares during the period. Meridian Investment Counsel Inc. raised its stake in shares of Johnson & Johnson by 19.6% during the third quarter. Meridian Investment Counsel Inc. now owns 22,629 shares of the company’s stock valued at $3,667,000 after purchasing an additional 3,710 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Johnson & Johnson by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,639,368 shares of the company’s stock valued at $2,858,543,000 after buying an additional 102,502 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Johnson & Johnson during the 3rd quarter worth about $69,859,000. Institutional investors own 69.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JNJ shares. Bank of America lowered their price objective on shares of Johnson & Johnson from $166.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com cut Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $215.00 target price on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Guggenheim lifted their target price on Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, Wolfe Research assumed coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Johnson & Johnson currently has an average rating of “Moderate Buy” and an average price target of $174.29.

Johnson & Johnson Stock Down 0.5 %

Shares of NYSE:JNJ opened at $147.03 on Friday. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03. The company has a market cap of $353.99 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.30 and a beta of 0.51. The firm has a 50 day simple moving average of $148.51 and a 200 day simple moving average of $155.96.

Johnson & Johnson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $1.24 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $4.96 annualized dividend and a dividend yield of 3.37%. Johnson & Johnson’s dividend payout ratio (DPR) is presently 71.78%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, Director Mark A. Weinberger bought 1,000 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $147.22 per share, with a total value of $147,220.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $147,220. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

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.