Pzena Investment Management LLC Purchases 3,645 Shares of Johnson & Johnson (NYSE:JNJ)

Pzena Investment Management LLC boosted its position in Johnson & Johnson (NYSE:JNJ) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 637,662 shares of the company’s stock after buying an additional 3,645 shares during the quarter. Pzena Investment Management LLC’s holdings in Johnson & Johnson were worth $99,947,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JNJ. Tower View Wealth Management LLC boosted its position in Johnson & Johnson by 183.3% in the third quarter. Tower View Wealth Management LLC now owns 255 shares of the company’s stock valued at $40,000 after buying an additional 165 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $40,000. WFA Asset Management Corp boosted its position in Johnson & Johnson by 61.4% in the fourth 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. Disciplined Equity Management Inc. acquired a new stake in Johnson & Johnson in the fourth quarter valued at approximately $45,000. Finally, Altshuler Shaham Ltd boosted its position in Johnson & Johnson by 37.8% in the third quarter. Altshuler Shaham Ltd now owns 317 shares of the company’s stock valued at $49,000 after buying an additional 87 shares in the last quarter. 69.55% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on JNJ. StockNews.com upgraded shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 6th. HSBC raised shares of Johnson & Johnson from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $169.00 to $170.00 in a research note on Thursday, April 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $215.00 price objective on shares of Johnson & Johnson in a research note on Monday, May 6th. Bank of America cut their price target on shares of Johnson & Johnson from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price target on shares of Johnson & Johnson in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.86.

Johnson & Johnson Stock Down 0.9 %

JNJ stock traded down $1.39 during trading on Friday, reaching $148.31. The stock had a trading volume of 1,400,261 shares, compared to its average volume of 7,299,794. Johnson & Johnson has a one year low of $143.13 and a one year high of $175.97. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $151.53 and its two-hundred day moving average is $155.07. The company has a market capitalization of $356.93 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 2.55 and a beta of 0.55.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Tuesday, April 16th. The company reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.07. Johnson & Johnson had a net margin of 45.26% and a return on equity of 36.70%. The business had revenue of $21.38 billion during the quarter, compared to the consensus estimate of $21.39 billion. During the same period in the prior year, the firm posted $2.68 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Johnson & Johnson will post 10.64 EPS for the current year.

Johnson & Johnson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 21st will be given a dividend of $1.24 per share. This is an increase from Johnson & Johnson’s previous quarterly dividend of $1.19. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, May 20th. Johnson & Johnson’s dividend 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.