Fred Alger Management LLC Acquires 7,871 Shares of Johnson & Johnson $JNJ

Fred Alger Management LLC grew its stake in Johnson & Johnson (NYSE:JNJ) by 13.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,004 shares of the company’s stock after purchasing an additional 7,871 shares during the quarter. Fred Alger Management LLC’s holdings in Johnson & Johnson were worth $12,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in JNJ. SOA Wealth Advisors LLC. lifted its stake in Johnson & Johnson by 0.7% in the third quarter. SOA Wealth Advisors LLC. now owns 7,392 shares of the company’s stock valued at $1,371,000 after buying an additional 53 shares during the period. Ethos Financial Group LLC grew its position in shares of Johnson & Johnson by 0.6% during the 3rd quarter. Ethos Financial Group LLC now owns 9,110 shares of the company’s stock worth $1,689,000 after buying an additional 53 shares during the period. Pinnacle Holdings LLC increased its stake in shares of Johnson & Johnson by 0.5% in the 3rd quarter. Pinnacle Holdings LLC now owns 11,214 shares of the company’s stock valued at $2,079,000 after acquiring an additional 54 shares during the last quarter. Bouchey Financial Group Ltd raised its position in shares of Johnson & Johnson by 0.8% in the 3rd quarter. Bouchey Financial Group Ltd now owns 7,249 shares of the company’s stock valued at $1,344,000 after acquiring an additional 54 shares during the period. Finally, Intrepid Capital Management Inc. raised its position in shares of Johnson & Johnson by 0.4% in the 3rd quarter. Intrepid Capital Management Inc. now owns 12,785 shares of the company’s stock valued at $2,371,000 after acquiring an additional 54 shares during the period. 69.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on JNJ shares. Royal Bank Of Canada boosted their price objective on shares of Johnson & Johnson from $240.00 to $255.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Wells Fargo & Company lifted their price target on shares of Johnson & Johnson from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, January 22nd. HSBC boosted their price target on shares of Johnson & Johnson from $240.00 to $265.00 and gave the company a “buy” rating in a report on Friday, January 30th. UBS Group reaffirmed a “buy” rating on shares of Johnson & Johnson in a research note on Monday, January 5th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Johnson & Johnson in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.91.

Insider Transactions at Johnson & Johnson

In other news, EVP Timothy Schmid sold 1,322 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $245.66, for a total value of $324,762.52. Following the sale, the executive vice president directly owned 25,447 shares in the company, valued at $6,251,310.02. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Vanessa Broadhurst sold 6,197 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $243.39, for a total value of $1,508,287.83. Following the transaction, the executive vice president owned 23,003 shares of the company’s stock, valued at approximately $5,598,700.17. The trade was a 21.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,142 shares of company stock worth $7,360,528. Corporate insiders own 0.16% of the company’s stock.

Johnson & Johnson Stock Up 0.6%

Johnson & Johnson stock opened at $243.03 on Tuesday. The company has a 50 day moving average of $232.69 and a 200-day moving average of $207.13. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.48. Johnson & Johnson has a twelve month low of $141.50 and a twelve month high of $251.71. The stock has a market capitalization of $585.37 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34.

Johnson & Johnson (NYSE:JNJ) last issued its quarterly earnings data on Saturday, January 31st. The company reported $2.46 EPS for the quarter. The business had revenue of $24.28 billion for the quarter. Johnson & Johnson had a net margin of 28.46% and a return on equity of 33.04%. On average, equities research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $5.20 annualized dividend and a dividend yield of 2.1%. Johnson & Johnson’s dividend payout ratio (DPR) is currently 47.06%.

Johnson & Johnson Company Profile

Johnson & Johnson is a multinational healthcare company headquartered in New Brunswick, New Jersey, that develops, manufactures and markets a broad range of products across pharmaceuticals, medical devices and previously consumer health. Founded in 1886 by the Johnson family, the company has grown into a global healthcare organization with operations and sales in many countries around the world.

The company’s pharmaceuticals business, organized largely under its Janssen research and development organization, focuses on prescription medicines across therapeutic areas such as immunology, infectious disease, oncology and neuroscience.