Patten Group Inc. Boosts Stock Holdings in Johnson & Johnson $JNJ

Patten Group Inc. lifted its position in Johnson & Johnson (NYSE:JNJ) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 22,378 shares of the company’s stock after buying an additional 139 shares during the quarter. Patten Group Inc.’s holdings in Johnson & Johnson were worth $3,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Apexium Financial LP grew its position in shares of Johnson & Johnson by 10.7% in the 1st quarter. Apexium Financial LP now owns 23,989 shares of the company’s stock worth $3,978,000 after buying an additional 2,310 shares during the last quarter. Avanza Fonder AB grew its position in shares of Johnson & Johnson by 2.9% in the 2nd quarter. Avanza Fonder AB now owns 234,647 shares of the company’s stock worth $35,842,000 after buying an additional 6,566 shares during the last quarter. Joel Isaacson & Co. LLC grew its position in shares of Johnson & Johnson by 3.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 74,132 shares of the company’s stock worth $12,294,000 after buying an additional 2,526 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Johnson & Johnson by 7.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 73,350 shares of the company’s stock worth $12,164,000 after buying an additional 4,816 shares during the last quarter. Finally, Klingman & Associates LLC grew its position in shares of Johnson & Johnson by 13.4% in the 1st quarter. Klingman & Associates LLC now owns 16,984 shares of the company’s stock worth $2,817,000 after buying an additional 2,005 shares during the last quarter. Hedge funds and other institutional investors own 69.55% of the company’s stock.

Johnson & Johnson Stock Performance

Shares of NYSE JNJ opened at $192.81 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.76 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 $194.48. The company has a 50 day simple moving average of $181.64 and a two-hundred day simple moving average of $165.56. The stock has a market cap of $464.35 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.25 and a beta of 0.40.

Johnson & Johnson (NYSE:JNJ) last announced its quarterly earnings data on Wednesday, August 30th. The company reported $2.26 EPS for the quarter. Johnson & Johnson had a net margin of 27.26% and a return on equity of 33.08%. The business had revenue of $24.02 billion during the quarter. As a group, analysts predict that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 25th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, November 25th. Johnson & Johnson’s payout ratio is presently 50.19%.

Insider Buying and Selling

In other Johnson & Johnson news, EVP Jennifer L. Taubert sold 56,471 shares of Johnson & Johnson stock in a transaction that occurred 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 directly 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 legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

JNJ has been the subject of a number of recent analyst reports. Sanford C. Bernstein lifted their target price on shares of Johnson & Johnson from $172.00 to $193.00 and gave the stock a “market perform” rating in a research note on Monday, October 6th. Raymond James Financial lifted their target price on shares of Johnson & Johnson from $174.00 to $209.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 15th. Wells Fargo & Company set a $212.00 target price on shares of Johnson & Johnson and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Wall Street Zen upgraded shares of Johnson & Johnson from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Loop Capital set a $190.00 target price on shares of Johnson & Johnson in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.05.

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.