Altman Advisors Inc. Acquires Shares of 9,711 Johnson & Johnson (NYSE:JNJ)

Altman Advisors Inc. acquired a new position in Johnson & Johnson (NYSE:JNJ - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,711 shares of the company's stock, valued at approximately $1,574,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JNJ. China Universal Asset Management Co. Ltd. bought a new position in Johnson & Johnson during the 1st quarter worth approximately $765,000. Empowered Funds LLC grew its holdings in Johnson & Johnson by 46.7% in the first quarter. Empowered Funds LLC now owns 101,237 shares of the company's stock worth $16,015,000 after purchasing an additional 32,244 shares during the period. Payden & Rygel Investment Group bought a new position in Johnson & Johnson during the 1st quarter valued at approximately $14,379,000. Mattern Capital Management LLC raised its position in shares of Johnson & Johnson by 6.9% in the 1st quarter. Mattern Capital Management LLC now owns 48,191 shares of the company's stock worth $7,623,000 after purchasing an additional 3,091 shares during the last quarter. Finally, Shell Asset Management Co. grew its holdings in shares of Johnson & Johnson by 9.7% during the first quarter. Shell Asset Management Co. now owns 17,728 shares of the company's stock valued at $2,804,000 after buying an additional 1,562 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 traded up $0.09 during trading hours on Wednesday, hitting $153.10. The company's stock had a trading volume of 9,060,825 shares, compared to its average volume of 7,028,536. The company has a market cap of $368.59 billion, a PE ratio of 22.09, a PEG ratio of 2.74 and a beta of 0.53. Johnson & Johnson has a 12-month low of $143.13 and a 12-month 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 business has a 50 day moving average price of $160.83 and a two-hundred day moving average price of $156.19.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.21. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.47 billion for the quarter, compared to analysts' expectations of $22.17 billion. During the same quarter in the previous year, the business posted $2.66 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. Analysts expect that Johnson & Johnson will post 9.93 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $4.96 annualized dividend and a dividend yield of 3.24%. Johnson & Johnson's dividend payout ratio is currently 71.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on JNJ shares. Daiwa America downgraded Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 23rd. Citigroup lifted their price target on shares of Johnson & Johnson from $180.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Daiwa Capital Markets downgraded shares of Johnson & Johnson from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $160.00 to $150.00 in a research report on Tuesday, July 23rd. Morgan Stanley increased their price target on Johnson & Johnson from $169.00 to $175.00 and gave the company an "equal weight" rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company lifted their price objective on Johnson & Johnson from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.94.

Insider Buying and Selling

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction 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 directly owns 18,973 shares of the company's stock, valued at approximately $3,131,683.38. The trade was a 22.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by insiders.

About Johnson & Johnson

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.