Citrine Capital LLC Invests $1.43 Million in Johnson & Johnson (NYSE:JNJ)

Citrine Capital LLC purchased a new stake in shares of Johnson & Johnson (NYSE:JNJ) in the 4th quarter, Holdings Channel reports. The fund purchased 9,882 shares of the company’s stock, valued at approximately $1,429,000. Johnson & Johnson comprises approximately 1.1% of Citrine Capital LLC’s holdings, making the stock its 14th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in Johnson & Johnson by 20,130.0% in the third quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock worth $559,832,000 after purchasing an additional 3,437,397 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Johnson & Johnson by 228.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after buying an additional 2,356,359 shares during the period. Franklin Resources Inc. grew its holdings in shares of Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after acquiring an additional 1,729,281 shares during the period. Holocene Advisors LP bought a new position in Johnson & Johnson in the third quarter valued at about $225,040,000. Finally, FMR LLC boosted its position in Johnson & Johnson by 7.4% in the third quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after purchasing an additional 1,265,748 shares during the last quarter. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Johnson & Johnson Price Performance

Shares of Johnson & Johnson stock opened at $153.10 on Monday. The firm has a market cap of $368.61 billion, a PE ratio of 23.02, a PEG ratio of 2.46 and a beta of 0.52. The stock has a 50 day moving average of $147.42 and a 200 day moving average of $156.08. The company has a current ratio of 1.03, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. Johnson & Johnson has a 12 month low of $140.68 and a 12 month high of $168.85.

Johnson & Johnson (NYSE:JNJ) last posted its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. Johnson & Johnson had a return on equity of 34.35% and a net margin of 18.20%. The firm had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. During the same period in the prior year, the company earned $2.29 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts expect that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

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 dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, February 18th. Johnson & Johnson’s dividend payout ratio is 74.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on JNJ shares. Barclays increased their price objective on shares of Johnson & Johnson from $159.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Argus upgraded shares of Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. Bank of America cut their price objective on shares of Johnson & Johnson from $160.00 to $159.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Citigroup lowered their target price on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus reduced their price target on Johnson & Johnson from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.67.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $147,220. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

About Johnson & Johnson

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.