Rossby Financial LCC Makes New Investment in Johnson & Johnson (NYSE:JNJ)

Rossby Financial LCC bought a new stake in Johnson & Johnson (NYSE:JNJ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,844 shares of the company's stock, valued at approximately $845,000.

A number of other hedge funds have also made changes to their positions in JNJ. Norges Bank purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at $4,390,037,000. Raymond James Financial Inc. purchased a new position in Johnson & Johnson in the 4th quarter valued at about $1,339,878,000. Vanguard Group Inc. boosted its stake in shares of Johnson & Johnson by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 232,792,559 shares of the company's stock worth $33,666,460,000 after purchasing an additional 1,772,706 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company's stock worth $2,721,355,000 after buying an additional 1,729,281 shares in the last quarter. Finally, Amundi raised its position in shares of Johnson & Johnson by 16.2% in the fourth quarter. Amundi now owns 11,930,183 shares of the company's stock valued at $1,698,984,000 after buying an additional 1,660,458 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. The Goldman Sachs Group upgraded Johnson & Johnson from a "neutral" rating to a "buy" rating and upped their target price for the company from $157.00 to $172.00 in a research note on Wednesday, April 9th. Bank of America cut their price objective on shares of Johnson & Johnson from $171.00 to $159.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada restated an "outperform" rating and issued a $181.00 target price on shares of Johnson & Johnson in a report on Wednesday, April 2nd. StockNews.com raised shares of Johnson & Johnson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, January 25th. Finally, Leerink Partners lowered their price objective on shares of Johnson & Johnson from $182.00 to $169.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Johnson & Johnson currently has an average rating of "Moderate Buy" and a consensus target price of $171.50.

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Johnson & Johnson Stock Performance

Shares of JNJ stock traded down $0.71 on Tuesday, hitting $153.66. 10,723,823 shares of the stock traded hands, compared to its average volume of 7,973,461. The company has a market capitalization of $370.29 billion, a PE ratio of 23.11, a PEG ratio of 2.56 and a beta of 0.49. The company's fifty day moving average is $159.39 and its 200 day moving average is $155.10. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.11 and a quick ratio of 0.86. Johnson & Johnson has a 1-year low of $140.68 and a 1-year high of $169.99.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. The business had revenue of $21.89 billion during the quarter, compared to analyst estimates of $21.65 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. On average, equities research analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be paid a dividend of $1.30 per share. This is an increase from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 dividend on an annualized basis and a yield of 3.38%. Johnson & Johnson's dividend payout ratio is presently 74.59%.

Insiders Place Their Bets

In other news, EVP Timothy Schmid sold 403 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $156.15, for a total transaction of $62,928.45. Following the completion of the transaction, the executive vice president now directly owns 15,098 shares in the company, valued at approximately $2,357,552.70. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total value of $1,160,994.12. Following the completion of the sale, the vice president now owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.16% of the stock is owned by corporate insiders.

Johnson & Johnson Profile

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.