AMI Investment Management Inc. Has $4.20 Million Position in Johnson & Johnson $JNJ

AMI Investment Management Inc. grew its stake in Johnson & Johnson (NYSE:JNJ) by 4.4% during the second quarter, HoldingsChannel reports. The firm owned 27,514 shares of the company’s stock after buying an additional 1,170 shares during the quarter. Johnson & Johnson accounts for about 1.1% of AMI Investment Management Inc.’s investment portfolio, making the stock its 26th largest holding. AMI Investment Management Inc.’s holdings in Johnson & Johnson were worth $4,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its position in Johnson & Johnson by 51.8% during the 1st quarter. Highline Wealth Partners LLC now owns 252 shares of the company’s stock worth $42,000 after buying an additional 86 shares during the period. Stone House Investment Management LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $47,000. 1248 Management LLC acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $48,000. von Borstel & Associates Inc. acquired a new stake in Johnson & Johnson during the 1st quarter worth approximately $49,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Johnson & Johnson in the 1st quarter worth approximately $52,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JNJ has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their price target on shares of Johnson & Johnson from $186.00 to $212.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating on shares of Johnson & Johnson in a research report on Thursday, July 17th. Wells Fargo & Company set a $212.00 price target on shares of Johnson & Johnson and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Erste Group Bank upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 23rd. Finally, Barclays boosted their price target on shares of Johnson & Johnson from $165.00 to $176.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.94.

Johnson & Johnson Stock Down 0.2%

Johnson & Johnson stock opened at $190.66 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.01 and a debt-to-equity ratio of 0.50. Johnson & Johnson has a 12-month low of $140.68 and a 12-month high of $192.10. The firm’s fifty day moving average is $178.48 and its 200 day moving average is $163.76. The company has a market capitalization of $459.16 billion, a PE ratio of 20.39, a PEG ratio of 2.40 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, August 30th. The company reported $2.26 earnings per share (EPS) for the quarter. Johnson & Johnson had a net margin of 25.00% and a return on equity of 32.49%. The company had revenue of $24.02 billion for the quarter. As a group, sell-side analysts predict that Johnson & Johnson will post 10.58 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, August 26th. Johnson & Johnson’s payout ratio is 55.61%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $177.81, for a total transaction of $10,041,108.51. Following the completion of the sale, the executive vice president owned 178,013 shares in the company, valued at approximately $31,652,491.53. The trade was a 24.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.16% of the company’s stock.

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.