Castlekeep Investment Advisors LLC Acquires New Position in Johnson & Johnson (NYSE:JNJ)

Castlekeep Investment Advisors LLC purchased a new position in Johnson & Johnson (NYSE:JNJ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,134,833 shares of the company’s stock, valued at approximately $164,120,000. Johnson & Johnson accounts for 1.1% of Castlekeep Investment Advisors LLC’s investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Johnson & Johnson during the fourth quarter valued at approximately $4,390,037,000. Raymond James Financial Inc. purchased a new stake in shares of Johnson & Johnson during the 4th quarter worth approximately $1,339,878,000. Northern Trust Corp grew its holdings in shares of Johnson & Johnson by 12.3% in the fourth quarter. Northern Trust Corp now owns 30,813,175 shares of the company’s stock valued at $4,456,201,000 after purchasing an additional 3,363,235 shares in the last quarter. Vanguard Group Inc. increased its position in Johnson & Johnson by 0.8% in the fourth 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. Finally, Amundi raised its stake in Johnson & Johnson by 16.2% during the fourth quarter. Amundi now owns 11,930,183 shares of the company’s stock valued at $1,698,984,000 after purchasing an additional 1,660,458 shares in the last quarter. 69.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Johnson & Johnson

In other Johnson & Johnson news, EVP Timothy Schmid sold 403 shares of the firm’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 completion of the transaction, the executive vice president now owns 15,098 shares of the company’s stock, valued at approximately $2,357,552.70. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction 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 Johnson & Johnson stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $165.88, for a total transaction 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. The trade was 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 currently owned by company insiders.

Analysts Set New Price Targets

JNJ has been the topic of a number of research reports. Bank of America reduced their target price 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. Sanford C. Bernstein reissued a “market perform” rating on shares of Johnson & Johnson in a research report on Wednesday, April 16th. The Goldman Sachs Group upgraded Johnson & Johnson from a “neutral” rating to a “buy” rating and raised their price target for the stock from $157.00 to $172.00 in a research report on Wednesday, April 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $181.00 target price on shares of Johnson & Johnson in a research note on Wednesday, April 16th. Finally, Benchmark raised shares of Johnson & Johnson to a “strong-buy” rating in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.82.

Johnson & Johnson Trading Up 1.1 %

JNJ opened at $156.09 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $158.85 and its two-hundred day moving average is $154.54. The company has a market capitalization of $375.56 billion, a P/E ratio of 23.47, a PEG ratio of 2.56 and a beta of 0.49. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $169.99.

Johnson & Johnson (NYSE:JNJ) last announced 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. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The firm had revenue of $21.89 billion for the quarter, compared to analyst estimates of $21.65 billion. Analysts forecast that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, May 27th. Johnson & Johnson’s dividend payout ratio is currently 57.84%.

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.