Johnson & Johnson (NYSE:JNJ) Shares Purchased by Renasant Bank

Renasant Bank raised its position in Johnson & Johnson (NYSE:JNJ) by 12.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,943 shares of the company’s stock after acquiring an additional 436 shares during the quarter. Renasant Bank’s holdings in Johnson & Johnson were worth $570,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. King Wealth Management Group grew its holdings in Johnson & Johnson by 2.1% during the fourth quarter. King Wealth Management Group now owns 15,558 shares of the company’s stock worth $2,250,000 after acquiring an additional 314 shares during the period. Blume Capital Management Inc. raised its position in Johnson & Johnson by 4.3% during the fourth quarter. Blume Capital Management Inc. now owns 67,808 shares of the company’s stock worth $9,806,000 after acquiring an additional 2,777 shares during the last quarter. May Barnhard Investments LLC acquired a new stake in Johnson & Johnson during the 4th quarter valued at $379,000. Atala Financial Inc purchased a new stake in Johnson & Johnson during the 4th quarter worth about $353,000. Finally, LBP AM SA raised its stake in Johnson & Johnson by 8.5% in the 4th quarter. LBP AM SA now owns 396,783 shares of the company’s stock valued at $57,383,000 after purchasing an additional 30,970 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JNJ has been the subject of a number of recent research reports. Guggenheim reiterated a “neutral” rating on shares of Johnson & Johnson in a report on Monday. Wolfe Research assumed coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They issued an “outperform” rating and a $190.00 target price for the company. Citigroup reduced their price target on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company lowered their price objective on Johnson & Johnson from $166.00 to $152.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Argus upgraded Johnson & Johnson to a “strong-buy” rating in a research report on Friday, January 24th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

Johnson & Johnson Stock Performance

NYSE:JNJ opened at $162.93 on Friday. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The firm has a market capitalization of $392.28 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.56 and a beta of 0.47. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. The firm’s fifty day simple moving average is $154.60 and its 200 day simple moving average is $156.38.

Johnson & Johnson (NYSE:JNJ) last issued its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.05. The company had revenue of $22.52 billion during the quarter, compared to the consensus estimate of $22.44 billion. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 earnings per share. As a group, equities research analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current fiscal year.

Johnson & Johnson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were given a dividend of $1.24 per share. The ex-dividend date was Tuesday, February 18th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 3.04%. Johnson & Johnson’s payout ratio is currently 74.59%.

Insider Activity

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $156.15, for a total value of $62,928.45. Following the transaction, the executive vice president now owns 15,098 shares in the company, valued at $2,357,552.70. The trade was a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert J. Decker sold 6,999 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 21,001 shares of the company’s stock, valued at $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. Insiders own 0.16% of the company’s stock.

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.